International Petroleum (TSE:IPCO) Stock Rating Upgraded by National Bank Financial

Key Points

• National Bank Financial upgraded International Petroleum to “outperform” from “sector perform” and set a C$50 price target, implying 39.39% upside from the share price cited in the report.
• Analyst sentiment is moderately positive overall: MarketBeat reports a “Moderate Buy” consensus and an average price target of C$39.20, with three Buy ratings and two Hold ratings.
• Shares fell C$2.58 to C$35.87 in Wednesday trading. The company reported quarterly earnings of C$0.74 per share and revenue of C$301.74 million.

International Petroleum (TSE:IPCO - Get Free Report) was upgraded by stock analysts at National Bank Financial from a "sector perform" rating to an "outperform" rating in a research note issued on Wednesday, BayStreet reports. The brokerage presently has a C$50.00 price objective on the stock. National Bank Financial's target price would indicate a potential upside of 39.39% from the stock's current price.

Several other brokerages have also weighed in on IPCO. TD set a C$38.00 target price on shares of International Petroleum and gave the company a "hold" rating in a research report on Friday, September 11th. Scotiabank set a C$38.00 price target on shares of International Petroleum and gave the stock a "sector outperform" rating in a research report on Friday, July 17th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of C$39.20.

International Petroleum Stock Performance

International Petroleum stock traded down C$2.58 during mid-day trading on Wednesday, reaching C$35.87. The company had a trading volume of 263,161 shares, compared to its average volume of 165,188. The company has a quick ratio of 3.93, a current ratio of 0.97 and a debt-to-equity ratio of 56.91. The firm has a market cap of C$4.00 billion, a price-to-earnings ratio of 188.79 and a beta of 0.40. The company has a 50 day moving average of C$36.51 and a 200-day moving average of C$34.05. International Petroleum has a 52 week low of C$23.26 and a 52 week high of C$40.93.

International Petroleum (TSE:IPCO - Get Free Report) last issued its earnings results on Tuesday, November 3rd. The company reported C$0.74 EPS for the quarter. International Petroleum had a return on equity of 2.33% and a net margin of 2.81%. The firm had revenue of C$301.74 million during the quarter. On average, sell-side analysts expect that International Petroleum will post 0.17 EPS for the current fiscal year.

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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