Inpex (OTCMKTS:IPXHY) Shares Gap Down - Here's Why

Key Points

• Inpex gapped down premarket from $26.86 to an open of $25.53 and last traded at $25.50 on volume of 15,578 shares, a decline of about 2.5%.
• Analysts have recently upgraded the stock — Nomura to "Hold" and Sanford C. Bernstein from "Strong Sell" to "Hold" — leaving the consensus rating at "Hold."
• The company reported quarterly EPS of $0.55 on $3.19 billion in revenue and shows solid fundamentals with a $30.23 billion market cap, P/E of 11.59, a net margin of 19.53% and a low debt-to-equity ratio of 0.14.

Inpex Corp. (OTCMKTS:IPXHY - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $26.86, but opened at $25.53. Inpex shares last traded at $25.50, with a volume of 15,578 shares.

Analyst Upgrades and Downgrades

Several research analysts have commented on IPXHY shares. Nomura upgraded shares of Inpex to a "hold" rating in a report on Friday, February 20th. Sanford C. Bernstein upgraded shares of Inpex from a "strong sell" rating to a "hold" rating in a report on Monday, March 2nd. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of "Hold".

Inpex Stock Down 2.5%

The company has a current ratio of 1.32, a quick ratio of 1.24 and a debt-to-equity ratio of 0.14. The company has a market cap of $30.23 billion, a price-to-earnings ratio of 11.59 and a beta of 0.27. The firm's fifty day simple moving average is $26.26 and its 200 day simple moving average is $21.97.

Inpex (OTCMKTS:IPXHY - Get Free Report) last posted its quarterly earnings results on Thursday, February 12th. The company reported $0.55 EPS for the quarter. The company had revenue of $3.19 billion during the quarter. Inpex had a net margin of 19.53% and a return on equity of 8.00%.

About Inpex

INPEX is a Japan-based energy company primarily engaged in the exploration, development, production and sale of oil and natural gas resources. The company's activities span upstream exploration and field development, midstream project execution — notably liquefied natural gas (LNG) facilities — and related resource management and commercial operations. INPEX's portfolio includes conventional and unconventional hydrocarbon assets and associated engineering and project-management expertise to bring complex developments into production.

INPEX is known for participation and leadership in large-scale LNG projects, including the Ichthys LNG development off northern Australia, which represents a core midstream and export capability in the company's business mix.

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