International Petroleum (TSE:IPCO) Hits New 12-Month High – Here’s Why

International Petroleum Co. (TSE:IPCO) shares reached a new 52-week high on Friday . The company traded as high as C$30.89 and last traded at C$30.66, with a volume of 177419 shares traded. The stock had previously closed at C$30.50.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on IPCO shares. Scotiabank lifted 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 lifted their target price 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. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, International Petroleum has a consensus rating of “Hold” and a consensus target price of C$26.50.

International Petroleum Trading Up 1.0%

The company has a debt-to-equity ratio of 47.72, a current ratio of 1.92 and a quick ratio of 3.93. The firm has a market cap of C$3.45 billion, a price-to-earnings ratio of 123.16 and a beta of 0.83. The firm’s fifty day moving average is C$26.56 and its 200-day moving average is C$25.18.

International Petroleum (TSE:IPCO) last posted its quarterly earnings data on Tuesday, February 10th. The company reported C($0.05) earnings per share for the quarter. International Petroleum had a return on equity of 10.18% and a net margin of 11.23%.The business had revenue of C$231.73 million during the quarter. Equities analysts anticipate that International Petroleum Co. will post 0.1677866 earnings per share for the current year.

Insider Transactions at International Petroleum

In other International Petroleum news, Director William A.W. Lundin purchased 20,000 shares of the business’s stock in a transaction on Thursday, December 18th. The shares were purchased at an average cost of C$24.26 per share, for a total transaction of C$485,200.00. Following the acquisition, the director owned 822,202 shares of the company’s stock, valued at approximately C$19,946,620.52. This represents a 2.49% increase in their ownership of the stock. Company insiders own 35.60% of the company’s stock.

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.