International Petroleum (TSE:IPCO) Hits New 12-Month High – What’s Next?

International Petroleum Co. (TSE:IPCO) shares reached a new 52-week high on Monday. The stock traded as high as C$39.82 and last traded at C$39.79, with a volume of 9,792 shares trading hands. The stock had previously closed at C$39.32.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. TD set a C$38.00 target price on shares of International Petroleum and gave the company a “hold” rating in a research note on Friday, September 11th. Scotiabank set a C$38.00 price objective on International Petroleum and gave the stock a “sector outperform” rating in a research note on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, International Petroleum has a consensus rating of “Hold” and a consensus price target of C$38.20.

International Petroleum Price Performance

The company has a debt-to-equity ratio of 56.91, a quick ratio of 3.93 and a current ratio of 0.97. The company has a 50-day moving average of C$35.14 and a 200-day moving average of C$34.54. The firm has a market capitalization of C$4.42 billion, a price-to-earnings ratio of 208.53 and a beta of 0.17.

International Petroleum (TSE:IPCO) last posted its earnings results on Tuesday, August 4th. The company reported C$0.13 earnings per share (EPS) for the quarter. The business had revenue of C$263.89 million during the quarter. International Petroleum had a return on equity of 2.33% and a net margin of 2.81%. As a group, research analysts anticipate that International Petroleum Co. will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling at International Petroleum

In other news, Director William A.W. Lundin acquired 33,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was acquired at an average cost of C$30.69 per share, for a total transaction of C$1,012,770.00. Following the completion of the acquisition, the director owned 624,012 shares in the company, valued at C$19,150,928.28. This represents a 5.58% increase in their ownership of the stock. 35.60% of the stock is owned by corporate insiders.

International Petroleum Company Profile

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.