International Petroleum (TSE:IPCO) Sets New 12-Month High – Time to Buy?

International Petroleum Co. (TSE:IPCO)’s stock price reached a new 52-week high on Tuesday . The company traded as high as C$39.29 and last traded at C$39.01, with a volume of 6721 shares changing hands. The stock had previously closed at C$38.81.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on IPCO shares. BMO Capital Markets raised shares of International Petroleum from a “market perform” rating to an “outperform” rating and set a C$43.00 price target on the stock in a research report on Tuesday, April 7th. Scotiabank increased 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 research report on Tuesday, January 20th. Royal Bank Of Canada increased their price target on shares of International Petroleum from C$25.00 to C$27.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 11th. Finally, National Bank Financial set a C$45.00 price target on shares of International Petroleum and gave the stock a “sector perform” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of C$35.25.

International Petroleum Stock Up 0.4%

The company has a debt-to-equity ratio of 58.61, a current ratio of 0.79 and a quick ratio of 3.93. The firm’s 50-day moving average price is C$36.34 and its 200 day moving average price is C$30.18. The firm has a market cap of C$4.39 billion, a P/E ratio of 177.05 and a beta of 0.35.

International Petroleum (TSE:IPCO) last issued its quarterly earnings results on Tuesday, May 5th. The company reported C$0.15 EPS for the quarter. The business had revenue of C$240.54 million for the quarter. International Petroleum had a net margin of 3.51% and a return on equity of 2.73%. On average, equities research analysts expect that International Petroleum Co. will post 0.1677866 earnings per share for the current fiscal year.

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.