International Petroleum (TSE:IPCO) Sets New 12-Month High - What's Next?

Key Points

• Stock surge: International Petroleum hit a new 52-week high of C$38.98 (last C$38.83) and was up about 2.1% on the day with roughly 13,217 shares traded.
• Analyst outlook: BMO upgraded IPCO to "outperform" with a C$43 target while other banks raised targets but kept "sector perform," leaving a consensus rating of "Hold" and an average price target of C$32.
• Fundamentals: The company has a market cap of C$4.32B and a high trailing P/E of 154.24, reported C($0.05) EPS last quarter, and analysts forecast about C$0.168 EPS for the current year.

Shares of International Petroleum Co. (TSE:IPCO - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$38.98 and last traded at C$38.83, with a volume of 13217 shares traded. The stock had previously closed at C$37.75.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on IPCO shares. BMO Capital Markets raised shares of International Petroleum from a "market perform" rating to an "outperform" rating and set a C$43.00 price objective for the company in a research report on Tuesday, April 7th. Royal Bank Of Canada upped their price objective on shares of International Petroleum from C$25.00 to C$27.00 and gave the stock a "sector perform" rating in a research report on Wednesday, February 11th. Finally, Scotiabank upped their price objective on shares of 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. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of C$32.00.

International Petroleum Stock Up 2.1%

The company has a debt-to-equity ratio of 52.52, a current ratio of 0.81 and a quick ratio of 3.93. The stock has a market capitalization of C$4.32 billion, a P/E ratio of 154.24 and a beta of 0.22. The stock has a fifty day moving average price of C$34.91 and a 200 day moving average price of C$28.86.

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

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. 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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