International Petroleum (TSE:IPCO) Sets New 1-Year High - Still a Buy?

Key Points

• Shares hit a new 52-week high: International Petroleum traded as high as C$38.41 (last C$38.11), substantially above the brokers' consensus target of C$26.50 even though analysts maintain a consensus "Hold" rating.
• Mixed fundamentals: the company reported C($0.05) quarterly EPS with a net margin of 3.9% and ROE of 3.12%, trades at a high P/E of 150.48 and C$4.24B market cap, and shows a strong quick ratio (3.93) but a low current ratio (0.81) and debt-to-equity of 52.52.

International Petroleum Co. (TSE:IPCO - Get Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as C$38.41 and last traded at C$38.11, with a volume of 28226 shares. The stock had previously closed at C$37.39.

Wall Street Analyst Weigh In

Several brokerages have commented on IPCO. Royal Bank Of Canada raised their price target on shares of International Petroleum from C$25.00 to C$27.00 and gave the company a "sector perform" rating in a research report on Wednesday, February 11th. Scotiabank upped their price objective on International Petroleum from C$24.00 to C$26.00 and gave the stock a "sector perform" rating in a research report on Tuesday, January 20th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of C$26.50.

International Petroleum Stock Performance

The stock has a 50-day moving average price of C$31.59 and a 200 day moving average price of C$27.01. The company has a quick ratio of 3.93, a current ratio of 0.81 and a debt-to-equity ratio of 52.52. The firm has a market capitalization of C$4.24 billion, a price-to-earnings ratio of 150.48 and a beta of 0.73.

International Petroleum (TSE:IPCO - Get Free Report) last issued its earnings results on Tuesday, February 10th. The company reported C($0.05) earnings per share for the quarter. International Petroleum had a net margin of 3.90% and a return on equity of 3.12%. The firm had revenue of C$231.73 million during the quarter. On average, analysts forecast that International Petroleum Co. will post 0.1677866 EPS for the current year.

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. It is based in Canada and derives revenue from the sales of gas, crude oil, and natural gas liquids, of which key revenue is derived from the sales of crude oil.

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