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

Key Points

• International Petroleum shares reached a new 52-week high of C$39.82 and last traded at C$39.79, above the previous close of C$39.32.
• Analyst sentiment remains mixed: two analysts rate the stock Buy and three rate it Hold. The consensus rating is Hold, with an average price target of C$38.20—below the current share price.
• International Petroleum reported quarterly EPS of C$0.13 on revenue of C$263.89 million. Director William Lundin also purchased 33,000 shares, while insiders collectively own 35.6% of the company.

Shares of International Petroleum Co. (TSE:IPCO - Get Free Report) hit a new 52-week high on Monday. The company traded as high as C$39.82 and last traded at C$39.79, with a volume of 9,792 shares changing hands. The stock had previously closed at C$39.32.

Analyst Ratings Changes

Several research firms recently weighed in on IPCO. Scotiabank set a C$38.00 target price on International Petroleum and gave the stock a "sector outperform" rating in a report on Friday, July 17th. TD set a C$38.00 price target on shares of International Petroleum and gave the company a "hold" rating in a research report on Friday, September 11th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of C$38.20.

International Petroleum Price Performance

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 simple moving average of C$35.14 and a 200 day simple moving average of C$34.54. The company has a market cap of C$4.42 billion, a P/E ratio of 208.53 and a beta of 0.17.

International Petroleum (TSE:IPCO - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported C$0.13 earnings per share (EPS) for the quarter. The firm had revenue of C$263.89 million for the quarter. International Petroleum had a net margin of 2.81% and a return on equity of 2.33%. On average, equities analysts expect that International Petroleum Co. will post 0.17 EPS for the current year.

Insider Activity

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.