International Petroleum (TSE:IPCO) PT Set at C$26.00 by Royal Bank Of Canada

Key Points

• Royal Bank of Canada has set a price target of C$26.00 for International Petroleum (TSE: IPCO), indicating a potential upside of 1.96% from its current trading levels.
• Scotiabank has also raised its target price for IPCO from C$20.00 to C$23.00, maintaining a "sector perform" rating on the stock.
• Insiders at International Petroleum purchased a total of 60,000 shares at an average price of C$22.13, reflecting confidence in the company's future performance.

Royal Bank Of Canada set a C$26.00 price objective on International Petroleum (TSE:IPCO - Free Report) in a research note published on Tuesday morning,BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

Separately, Scotiabank upped their price target on International Petroleum from C$20.00 to C$23.00 and gave the company a "sector perform" rating in a research report on Friday, June 20th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, International Petroleum presently has an average rating of "Hold" and an average price target of C$22.75.

International Petroleum Stock Performance

IPCO stock traded down C$0.45 during midday trading on Tuesday, hitting C$24.07. The company's stock had a trading volume of 86,539 shares, compared to its average volume of 99,115. The stock's 50-day moving average price is C$23.59 and its 200 day moving average price is C$21.35. The company has a quick ratio of 3.93, a current ratio of 1.92 and a debt-to-equity ratio of 47.72. International Petroleum has a 1 year low of C$14.42 and a 1 year high of C$25.93. The stock has a market cap of C$2.71 billion, a price-to-earnings ratio of 54.70 and a beta of 0.99.

Insider Activity at International Petroleum

In other news, insider International Petroleum Corporation purchased 60,000 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were purchased at an average price of C$22.13 per share, with a total value of C$1,327,800.00. 35.60% of the stock is owned by corporate insiders.

International Petroleum Company Profile

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.