International Petroleum (TSE:IPCO) Announces Earnings Results

International Petroleum (TSE:IPCO) issued its earnings results on Tuesday. The company reported C$0.15 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of C$240.54 million for the quarter. International Petroleum had a net margin of 3.90% and a return on equity of 3.12%.

Here are the key takeaways from International Petroleum’s conference call:

• Production came in at the top of Q1 guidance at 43,000 BOE/d and the company maintains full‑year guidance of 44,000–47,000 BOE/d, with Blackrod Phase I still on track for first oil in Q3 2026 and expected to materially lift back‑end production and 2027 cash generation.
• Operating costs remain disciplined at below $18/BOE in Q1 with guidance of $18–$20/BOE, and management expects per‑barrel OpEx to decline as Blackrod ramps and volumes scale through 2026–2027.
• Q1 operating cash flow was $68m and full‑year OCF guidance was raised to $220–$340m (assumes $70–$90 Brent), while benchmark hedges covering ~40% of exposure roll off in June—leaving the company fully price‑exposed from July; net debt stands at $513m and the Canadian revolving facility was increased to CAD 250m maturing in 2028.
• Capital spending was increased to $163m (Q1 capex $71m) to accelerate short‑cycle projects, resulting in negative free cash flow of −$17m in Q1 and a likely negative FCF in Q2, with full‑year FCF now forecast at $0–$120m (assumes $70–$90 Brent).

International Petroleum Trading Down 0.7%

Shares of International Petroleum stock traded down C$0.27 during trading hours on Tuesday, reaching C$37.40. 21,685 shares of the company’s stock were exchanged, compared to its average volume of 203,674. International Petroleum has a 52-week low of C$17.87 and a 52-week high of C$39.08. The firm has a market capitalization of C$4.19 billion, a price-to-earnings ratio of 149.60 and a beta of 0.35. The company has a fifty day moving average of C$35.24 and a 200-day moving average of C$29.08. The company has a current ratio of 0.81, a quick ratio of 3.93 and a debt-to-equity ratio of 52.52.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on IPCO shares. Royal Bank Of Canada upped their price target on International Petroleum from C$25.00 to C$27.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 11th. National Bank Financial set a C$45.00 price target on International Petroleum and gave the stock a “sector perform” rating in a report on Monday. Scotiabank upped their price target on International Petroleum from C$24.00 to C$26.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 20th. Finally, BMO Capital Markets upgraded International Petroleum from a “market perform” rating to an “outperform” rating and set a C$43.00 price target on the stock in a report on Tuesday, April 7th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of C$35.25.

About International Petroleum

International Petroleum Corp is an international oil and gas exploration and production company. It is engaged in the exploration, development, and production of oil and gas. Geographically, the company holds a portfolio of oil and gas production assets and development projects in Canada, Malaysia and France. It is based in Canada and derives revenue from the sales of gas, crude oil, and natural gas liquids, of which key revenue is derived from the sales of crude oil.