International Petroleum (TSE:IPCO) Given a C$26.00 Price Target by Royal Bank Of Canada Analysts

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.

International Petroleum (TSE:IPCO - Get Free Report) received a C$26.00 price target from equities researchers at Royal Bank Of Canada in a report released on Tuesday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank Of Canada's target price would indicate a potential upside of 1.96% from the stock's current price.

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

International Petroleum Price Performance

Shares of IPCO traded up C$0.01 on Tuesday, hitting C$25.50. The company's stock had a trading volume of 37,366 shares, compared to its average volume of 99,212. The company has a market capitalization of C$2.87 billion, a PE ratio of 57.95 and a beta of 1.06. The company has a debt-to-equity ratio of 47.72, a current ratio of 1.92 and a quick ratio of 3.93. International Petroleum has a fifty-two week low of C$14.42 and a fifty-two week high of C$25.93. The company has a 50 day moving average price of C$23.39 and a 200 day moving average price of C$21.23.

Insider Buying and Selling at International Petroleum

In related news, insider International Petroleum Corporation purchased 60,000 shares of the business's stock in a transaction dated Thursday, July 31st. The shares were bought 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 currently owned by company insiders.

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.

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