International Petroleum (TSE:IPCO) Sets New 12-Month High – Here’s What Happened

Shares of International Petroleum Co. (TSE:IPCO) hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$31.48 and last traded at C$31.16, with a volume of 24124 shares changing hands. The stock had previously closed at C$30.90.

Analysts Set New Price Targets

IPCO has been the subject of a number of research analyst reports. Scotiabank lifted their price target on International Petroleum from C$24.00 to C$26.00 and gave the stock a “sector perform” rating in a 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 company a “sector perform” rating in a research report on Wednesday, February 11th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of C$26.50.

International Petroleum Stock Performance

The stock has a market capitalization of C$3.49 billion, a P/E ratio of 124.52 and a beta of 0.83. The company’s fifty day simple moving average is C$27.33 and its two-hundred day simple moving average is C$25.50. The company has a debt-to-equity ratio of 47.72, a quick ratio of 3.93 and a current ratio of 1.92.

International Petroleum (TSE:IPCO) last issued its quarterly earnings data on Tuesday, February 10th. The company reported C($0.05) EPS for the quarter. International Petroleum had a net margin of 11.23% and a return on equity of 10.18%. The firm had revenue of C$231.73 million during the quarter. As a group, equities analysts forecast that International Petroleum Co. will post 0.1677866 EPS for the current year.

Insider Buying and Selling

In other International Petroleum news, Director William A.W. Lundin acquired 20,000 shares of the company’s stock in a transaction on Thursday, December 18th. The stock was acquired at an average price of C$24.26 per share, for a total transaction of C$485,200.00. Following the purchase, the director directly owned 822,202 shares of the company’s stock, valued at C$19,946,620.52. This trade represents a 2.49% increase in their ownership of the stock. 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.