Scotiabank Issues Positive Forecast for International Petroleum (TSE:IPCO) Stock Price

International Petroleum (TSE:IPCO) had its price objective boosted by Scotiabank from C$24.00 to C$26.00 in a report released on Tuesday,BayStreet.CA reports. They currently have a sector perform rating on the stock.

International Petroleum Stock Performance

IPCO opened at C$25.34 on Tuesday. The company has a quick ratio of 3.93, a current ratio of 1.92 and a debt-to-equity ratio of 47.72. The stock’s 50 day moving average price is C$25.64 and its two-hundred day moving average price is C$24.27. The firm has a market capitalization of C$2.84 billion, a P/E ratio of 87.38 and a beta of 0.53. International Petroleum has a 12-month low of C$16.32 and a 12-month high of C$28.89.

International Petroleum (TSE:IPCO) last issued its quarterly earnings results on Tuesday, November 4th. The company reported C$0.03 EPS for the quarter. The company had revenue of C$239.91 million during the quarter. International Petroleum had a return on equity of 10.18% and a net margin of 11.23%. On average, equities analysts forecast that International Petroleum will post 0.1677866 earnings per share for the current year.

Insider Activity

In related news, Director William A.W. Lundin acquired 20,000 shares of the business’s stock in a transaction dated Thursday, December 18th. The stock was acquired at an average price of C$24.26 per share, with a total value of C$485,200.00. Following the completion of the transaction, 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. 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.