International Petroleum (TSE:IPCO) Hits New 1-Year High - Should You Buy?

Key Points

• International Petroleum reached a new 52-week high, trading at C$24.15 after previously closing at C$23.88 with a volume of 40,832 shares.
• Scotiabank upgraded the company's price target from C$20.00 to C$23.00 while maintaining a "sector perform" rating.
• The company has a market cap of C$2.04 billion, a debt-to-equity ratio of 47.72, and a price-to-earnings ratio of 20.52.

International Petroleum Co. (TSE:IPCO - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$24.18 and last traded at C$24.15, with a volume of 40832 shares trading hands. The stock had previously closed at C$23.88.

Analysts Set New Price Targets

Separately, Scotiabank lifted their price target on shares of 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.

International Petroleum Stock Performance

The firm has a market cap of C$1.92 billion, a PE ratio of 19.32 and a beta of 2.38. The stock has a 50-day moving average price of C$22.02 and a 200 day moving average price of C$20.39. The company has a debt-to-equity ratio of 47.72, a current ratio of 1.92 and a quick ratio of 3.93.

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.