International Petroleum (TSE:IPCO) Given a C$38.00 Price Target at TD

Key Points

• TD maintained a “hold” rating on International Petroleum and set a C$38.00 price target, implying 6.41% upside from the prior close. The consensus target is C$38.20, with an overall average rating of “Hold.”
• International Petroleum shares fell C$1.26 to C$35.71 in Friday trading, while the company reported quarterly revenue of C$263.89 million and earnings of C$0.13 per share.
• Director William A.W. Lundin purchased 33,000 shares for approximately C$1.01 million, increasing his holdings by 5.58%; insiders collectively own 35.60% of the company.

International Petroleum (TSE:IPCO - Get Free Report) received a C$38.00 price objective from equities researchers at TD in a research report issued to clients and investors on Friday, BayStreet reports. The firm currently has a "hold" rating on the stock. TD's price target would indicate a potential upside of 6.41% from the company's previous close.

Separately, Scotiabank set a C$38.00 target price on shares of International Petroleum and gave the stock a "sector outperform" rating in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of C$38.20.

International Petroleum Price Performance

Shares of International Petroleum stock traded down C$1.26 during trading on Friday, reaching C$35.71. 69,909 shares of the company's stock were exchanged, compared to its average volume of 171,891. The company has a debt-to-equity ratio of 56.91, a quick ratio of 3.93 and a current ratio of 0.97. International Petroleum has a 1-year low of C$20.74 and a 1-year high of C$39.47. The company has a market cap of C$4.00 billion, a P/E ratio of 187.95 and a beta of 0.13. The firm's 50-day moving average price is C$32.62 and its 200 day moving average price is C$34.28.

International Petroleum (TSE:IPCO - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported C$0.13 earnings per share for the quarter. International Petroleum had a return on equity of 2.33% and a net margin of 2.81%.The business had revenue of C$263.89 million for the quarter. As a group, research analysts anticipate that International Petroleum will post 0.1677866 earnings per share for the current year.

Insider Buying and Selling at International Petroleum

In other International Petroleum news, Director William A.W. Lundin acquired 33,000 shares of the company's stock in a transaction that occurred on Wednesday, August 5th. The stock was acquired at an average price of C$30.69 per share, for a total transaction of C$1,012,770.00. Following the acquisition, the director directly owned 624,012 shares in the company, valued at C$19,150,928.28. This represents a 5.58% increase in their ownership of the stock. Company 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.

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