Insider Buying: International Petroleum (TSE:IPCO) Director Buys C$1,012,770.00 in Stock

International Petroleum Co. (TSE:IPCO) Director William A.W. Lundin purchased 33,000 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were purchased at an average cost of C$30.69 per share, with a total value of C$1,012,770.00. Following the acquisition, the director owned 624,012 shares in the company, valued at C$19,150,928.28. This trade represents a 5.58% increase in their position.

International Petroleum Stock Performance

Shares of TSE:IPCO opened at C$30.58 on Friday. The company’s 50 day simple moving average is C$32.10 and its 200 day simple moving average is C$33.24. The stock has a market capitalization of C$3.45 billion, a price-to-earnings ratio of 160.95 and a beta of 0.09. The company has a debt-to-equity ratio of 58.61, a current ratio of 0.79 and a quick ratio of 3.93. International Petroleum Co. has a 1 year low of C$20.74 and a 1 year high of C$39.47.

International Petroleum (TSE:IPCO) last announced its quarterly earnings data on Tuesday, August 4th. The company reported C$0.13 EPS for the quarter. International Petroleum had a net margin of 3.51% and a return on equity of 2.73%. The business had revenue of C$263.89 million during the quarter. As a group, research analysts predict that International Petroleum Co. will post 0.1677866 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on IPCO shares. Scotiabank set a C$38.00 price objective on International Petroleum and gave the stock a “sector outperform” rating in a research report on Friday, July 17th. National Bank Financial set a C$45.00 target price on International Petroleum and gave the company a “sector perform” rating in a research report on Monday, May 4th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$38.25.

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.