BMO Capital Markets Upgrades International Petroleum (TSE:IPCO) to "Outperform"

Key Points

• BMO Capital Markets upgraded International Petroleum (TSE:IPCO) to "Outperform" and set a C$43.00 price target, implying roughly a 12.6% upside from the current price.
• The stock's consensus analyst rating remains "Hold" with an average price target of C$32.00, even as several brokers have recently raised their targets to the mid‑C$20s–C$40s range.
• Shares traded at C$38.18 (near a one‑year high) after the news, while the company reported a quarterly EPS of C($0.05), revenue of C$231.7M, a P/E of 152.7 and a market cap of C$4.31B.

International Petroleum (TSE:IPCO - Get Free Report) was upgraded by equities researchers at BMO Capital Markets from a "market perform" rating to an "outperform" rating in a report released on Tuesday,BayStreet.CA reports. The brokerage presently has a C$43.00 target price on the stock. BMO Capital Markets' price objective would indicate a potential upside of 12.62% from the stock's current price.

Several other equities analysts have also recently weighed in on the company. Scotiabank increased their price target on International Petroleum from C$24.00 to C$26.00 and gave the company a "sector perform" rating in a report on Tuesday, January 20th. Royal Bank Of Canada increased their price target on International Petroleum from C$25.00 to C$27.00 and gave the company a "sector perform" rating in a report on Wednesday, February 11th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of C$32.00.

International Petroleum Stock Performance

Shares of TSE IPCO traded up C$1.47 during midday trading on Tuesday, hitting C$38.18. 190,598 shares of the stock traded hands, compared to its average volume of 220,329. The firm has a 50-day moving average of C$32.64 and a two-hundred day moving average of C$27.45. The firm has a market capitalization of C$4.31 billion, a P/E ratio of 152.72 and a beta of 0.22. The company has a debt-to-equity ratio of 52.52, a quick ratio of 3.93 and a current ratio of 0.81. International Petroleum has a one year low of C$16.54 and a one year high of C$38.90.

International Petroleum (TSE:IPCO - Get Free Report) last released its quarterly earnings results on Tuesday, February 10th. The company reported C($0.05) earnings per share for the quarter. The firm had revenue of C$231.73 million for the quarter. International Petroleum had a net margin of 3.90% and a return on equity of 3.12%. On average, equities analysts forecast that International Petroleum will post 0.1677866 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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