International Petroleum (TSE:IPCO) Sets New 12-Month High After Analyst Upgrade

International Petroleum Co. (TSE:IPCO)’s stock price hit a new 52-week high during mid-day trading on Tuesday after BMO Capital Markets upgraded the stock from a market perform rating to an outperform rating. BMO Capital Markets now has a C$43.00 price target on the stock. International Petroleum traded as high as C$38.76 and last traded at C$38.75, with a volume of 35140 shares. The stock had previously closed at C$36.71.

IPCO has been the subject of a number of other reports. Scotiabank raised their price objective on 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 raised their price objective on 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. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of C$32.00.

International Petroleum Stock Performance

The company has a market capitalization of C$3.99 billion, a price-to-earnings ratio of 141.52 and a beta of 0.22. The company has a debt-to-equity ratio of 52.52, a quick ratio of 3.93 and a current ratio of 0.81. The firm has a 50-day simple moving average of C$33.02 and a two-hundred day simple moving average of C$27.60.

International Petroleum (TSE:IPCO) last released its earnings results on Tuesday, February 10th. The company reported C($0.05) earnings per share for the quarter. The firm had revenue of C$231.73 million during the quarter. International Petroleum had a net margin of 3.90% and a return on equity of 3.12%. On average, sell-side analysts anticipate 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.