International Petroleum (TSE:IPCO) Reaches New 1-Year High - Time to 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 share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$24.18 and last traded at C$24.15, with a volume of 40832 shares changing hands. The stock had previously closed at C$23.88.

Analyst Upgrades and Downgrades

Separately, Scotiabank boosted their price target on shares of International Petroleum from C$20.00 to C$23.00 and gave the company a "sector perform" rating in a report on Friday, June 20th.

International Petroleum Trading Up 1.5%

The company has a debt-to-equity ratio of 47.72, a quick ratio of 3.93 and a current ratio of 1.92. The firm has a market cap of C$2.04 billion, a price-to-earnings ratio of 20.52 and a beta of 2.38. The company's 50-day moving average is C$21.68 and its 200-day moving average is C$20.28.

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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