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 Monday. The stock traded as high as C$40.93 and last traded at C$40.72, with a volume of 94,863 shares. The stock had previously closed at C$40.29.

Analyst Ratings Changes

Several research firms have recently commented on IPCO. Scotiabank set a C$38.00 price objective on International Petroleum and gave the company a “sector outperform” rating in a report on Friday, July 17th. TD set a C$38.00 target price on shares of International Petroleum and gave the stock a “hold” rating in a report on Friday, September 11th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$38.20.

International Petroleum Price Performance

The company has a current ratio of 0.97, a quick ratio of 3.93 and a debt-to-equity ratio of 56.91. The firm has a market capitalization of C$4.51 billion, a price-to-earnings ratio of 212.89 and a beta of 0.17. The company’s 50 day moving average is C$35.87 and its 200-day moving average is C$34.66.

International Petroleum (TSE:IPCO) last announced its quarterly earnings results on Tuesday, August 4th. The company reported C$0.13 earnings per share for the quarter. The firm had revenue of C$263.89 million for the quarter. International Petroleum had a return on equity of 2.33% and a net margin of 2.81%. Equities research analysts anticipate that International Petroleum Co. will post 0.17 earnings per share for the current year.

Insider Activity at International Petroleum

In other International Petroleum news, Director William A.W. Lundin bought 33,000 shares of International Petroleum stock in a transaction dated Wednesday, August 5th. The stock was bought at an average cost of C$30.69 per share, for a total transaction of C$1,012,770.00. Following the purchase, the director owned 624,012 shares of the company’s stock, valued at C$19,150,928.28. The trade was a 5.58% increase in their position. Corporate insiders own 35.60% of the company’s stock.

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.