International Petroleum (TSE:IPCO) Stock Jumps 1.8% - Still a Buy?

Key Points

• International Petroleum shares rose 1.8% to C$34.89, with trading volume significantly below average.
• Analyst sentiment is mixed: two firms rate the stock Buy and three rate it Hold, producing a consensus Hold rating and an average price target of C$38.20.
• The company reported quarterly EPS of C$0.13 on C$263.89 million in revenue, while director William Lundin increased his holdings by purchasing 33,000 shares at C$30.69 each.

International Petroleum Co. (TSE:IPCO - Get Free Report)'s stock price shot up 1.8% on Friday. The company traded as high as C$35.11 and last traded at C$34.89. 71,083 shares changed hands during trading, a decline of 57% from the average session volume of 166,824 shares. The stock had previously closed at C$34.28.

Wall Street Analysts Forecast Growth

Several research firms have issued reports 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 report on Friday, July 17th. TD set a C$38.00 price objective on shares of 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 assigned a Hold rating to the stock. According to MarketBeat, International Petroleum presently has a consensus rating of "Hold" and an average target price of C$38.20.

International Petroleum Price Performance

The business has a 50 day moving average price of C$33.93 and a 200-day moving average price of C$34.53. The company has a market capitalization of C$3.90 billion, a price-to-earnings ratio of 183.63 and a beta of 0.13. The company has a debt-to-equity ratio of 56.91, a quick ratio of 3.93 and a current ratio of 0.97.

International Petroleum (TSE:IPCO - Get Free Report) last issued 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 predict that International Petroleum Co. will post 0.1677866 EPS for the current fiscal year.

Insider Activity

In related news, Director William A.W. Lundin bought 33,000 shares of the company's stock in a transaction that occurred on 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 transaction, 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.

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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