International Petroleum (TSE:IPCO) Sets New 12-Month High - Still a Buy?

Key Points

• International Petroleum reached a new 52-week high, trading as high as C$40.93 and closing near C$40.72, above its previous close of C$40.29.
• Analyst sentiment is mixed: two analysts rate the stock a Buy and three rate it Hold, resulting in an overall “Hold” consensus and an average price target of C$38.20—below its current price.
• The company reported quarterly revenue of C$263.89 million and earnings of C$0.13 per share, while director William Lundin purchased 33,000 shares; insiders collectively own 35.6% of the stock.

International Petroleum Co. (TSE:IPCO - Get Free Report) hit a new 52-week high on Monday. The company traded as high as C$40.93 and last traded at C$40.72, with a volume of 94,863 shares. The stock had previously closed at C$40.29.

Wall Street Analysts Forecast Growth

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

International Petroleum Stock Performance

The stock's 50-day moving average price is C$35.87 and its 200 day moving average price is C$34.66. The firm has a market cap of C$4.51 billion, a P/E ratio of 212.89 and a beta of 0.17. The company has a debt-to-equity ratio of 56.91, a current ratio of 0.97 and a quick ratio of 3.93.

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

Insider Buying and Selling at International Petroleum

In related news, Director William A.W. Lundin acquired 33,000 shares of the firm's 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 acquisition, the director directly owned 624,012 shares of the company's stock, valued at approximately C$19,150,928.28. The trade was a 5.58% increase in their ownership of the stock. 35.60% of the stock is owned by insiders.

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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