International Petroleum (TSE:IPCO) Shares Up 0.8% - Should You Buy?

Key Points

• International Petroleum's share price increased by 0.8%, reaching C$22.60, although trading volume decreased by 28% compared to its average session volume.
• Analysts have set a consensus rating of "Hold" for the stock, with target prices ranging from C$23.00 to C$26.00, indicating modest expectations for future performance.
• Insiders have shown confidence in the company, purchasing a total of 60,000 shares at C$22.13 each, reflecting their commitment to the company's future prospects.

International Petroleum Co. (TSE:IPCO - Get Free Report)'s share price shot up 0.8% during mid-day trading on Tuesday . The company traded as high as C$22.70 and last traded at C$22.60. 71,520 shares changed hands during trading, a decline of 28% from the average session volume of 99,967 shares. The stock had previously closed at C$22.43.

Analyst Ratings Changes

A number of research firms have recently issued reports on IPCO. Royal Bank Of Canada set a C$26.00 target price on shares of International Petroleum and gave the stock a "sector perform" rating in a report on Tuesday, September 2nd. Scotiabank upped their target price on shares of International Petroleum from C$23.00 to C$24.00 and gave the stock a "sector perform" rating in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, International Petroleum currently has a consensus rating of "Hold" and an average price target of C$23.00.

International Petroleum Price Performance

The company has a debt-to-equity ratio of 47.72, a current ratio of 1.92 and a quick ratio of 3.93. The stock's fifty day moving average is C$24.24 and its 200-day moving average is C$21.95. The stock has a market cap of C$2.54 billion, a PE ratio of 51.36 and a beta of 0.69.

Insider Activity

In other news, insider International Petroleum Corporation acquired 60,000 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The stock was purchased at an average price of C$22.13 per share, with a total value of C$1,327,800.00. Corporate 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.

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