Scotiabank Forecasts Strong Price Appreciation for International Petroleum (TSE:IPCO) Stock

International Petroleum (TSE:IPCO) had its target price upped by equities researchers at Scotiabank from C$23.00 to C$24.00 in a research note issued on Thursday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s target price indicates a potential upside of 7.00% from the stock’s current price.

Separately, Royal Bank Of Canada set a C$26.00 price target on shares of International Petroleum and gave the company a “sector perform” rating in a research report on Tuesday, September 2nd. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$23.00.

International Petroleum Stock Performance

IPCO stock opened at C$22.43 on Thursday. The firm has a market cap of C$2.51 billion, a price-to-earnings ratio of 50.98 and a beta of 0.69. The firm has a 50-day simple moving average of C$24.26 and a two-hundred day simple moving average of C$21.94. International Petroleum has a one year low of C$14.42 and a one year high of C$25.93. The company has a debt-to-equity ratio of 47.72, a quick ratio of 3.93 and a current ratio of 1.92.

Insider Buying and Selling

In other International Petroleum news, insider International Petroleum Corporation purchased 60,000 shares of International Petroleum stock in a transaction on Thursday, July 31st. The stock was bought at an average cost of C$22.13 per share, with a total value of C$1,327,800.00. 35.60% of the stock is owned by company insiders.

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.