International Petroleum (TSE:IPCO) Hits New 52-Week High – Here’s Why

International Petroleum Co. (TSE:IPCO)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as C$35.47 and last traded at C$35.27, with a volume of 190395 shares traded. The stock had previously closed at C$34.14.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Scotiabank raised their price target on shares of 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. Royal Bank Of Canada boosted their price objective on shares of International Petroleum from C$25.00 to C$27.00 and gave the company a “sector perform” rating in a report on Wednesday, February 11th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, International Petroleum presently has an average rating of “Hold” and a consensus price target of C$26.50.

International Petroleum Price Performance

The company has a debt-to-equity ratio of 52.52, a current ratio of 0.81 and a quick ratio of 3.93. The stock has a market cap of C$4.16 billion, a price-to-earnings ratio of 147.44 and a beta of 0.73. The stock has a fifty day moving average of C$29.82 and a 200 day moving average of C$26.33.

International Petroleum (TSE:IPCO) last issued its quarterly earnings results on Tuesday, February 10th. The company reported C($0.05) earnings per share for the quarter. International Petroleum had a return on equity of 3.12% and a net margin of 3.90%.The business had revenue of C$231.73 million during the quarter. On average, analysts expect that International Petroleum Co. will post 0.1677866 EPS for the current fiscal year.

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.