International Petroleum (TSE:IPCO) Shares Cross Below 50 Day Moving Average - Here's What Happened

Key Points

• International Petroleum shares fell below their 50-day moving average of C$31.80, trading as low as C$31.80 before last changing hands at C$32.04, down 1.4%.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of C$38.25 versus the recent trading price.
• Director William A.W. Lundin purchased 33,000 shares for approximately C$1.01 million, increasing his position by 5.58%; insiders collectively own 35.6% of the company.

Shares of International Petroleum Co. (TSE:IPCO - Get Free Report) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$31.80 and traded as low as C$31.80. International Petroleum shares last traded at C$32.04, with a volume of 87,574 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IPCO. Scotiabank set a C$38.00 price target on shares of International Petroleum and gave the stock a "sector outperform" rating in a research note on Friday, July 17th. National Bank Financial set a C$45.00 price objective on shares of International Petroleum and gave the company a "sector perform" rating in a research note on Monday, May 4th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of C$38.25.

International Petroleum Stock Down 1.4%

The company has a debt-to-equity ratio of 56.91, a quick ratio of 3.93 and a current ratio of 0.97. The stock has a 50 day moving average price of C$31.80 and a 200 day moving average price of C$33.48. The company has a market cap of C$3.61 billion, a P/E ratio of 168.63 and a beta of 0.09.

International Petroleum (TSE:IPCO - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported C$0.13 earnings per share for the quarter. The business had revenue of C$263.89 million during the quarter. International Petroleum had a return on equity of 2.33% and a net margin of 2.81%. Research analysts expect that International Petroleum Co. will post 0.1677866 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other International Petroleum news, Director William A.W. Lundin acquired 33,000 shares of International Petroleum stock in a transaction dated Wednesday, August 5th. The stock was bought at an average price of C$30.69 per share, for a total transaction of C$1,012,770.00. Following the transaction, the director owned 624,012 shares in the company, valued at approximately C$19,150,928.28. This trade represents a 5.58% increase in their position. Insiders own 35.60% of the company's stock.

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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