International Petroleum (TSE:IPCO) Sets New 1-Year High – Should You Buy?

International Petroleum Co. (TSE:IPCO)’s share price reached a new 52-week high during trading on Friday . The company traded as high as C$31.48 and last traded at C$31.16, with a volume of 24124 shares traded. The stock had previously closed at C$30.90.

Analysts Set New Price Targets

Several research firms have issued reports on IPCO. Scotiabank raised their price target on shares of International Petroleum from C$24.00 to C$26.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 20th. Royal Bank Of Canada upped their price objective on shares of International Petroleum from C$25.00 to C$27.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 11th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of C$26.50.

International Petroleum Stock Performance

The company has a market capitalization of C$3.50 billion, a price-to-earnings ratio of 124.68 and a beta of 0.83. The company has a quick ratio of 3.93, a current ratio of 1.92 and a debt-to-equity ratio of 47.72. The stock has a 50 day simple moving average of C$27.19 and a 200 day simple moving average of C$25.44.

International Petroleum (TSE:IPCO) last issued its earnings results on Tuesday, February 10th. The company reported C($0.05) earnings per share for the quarter. International Petroleum had a return on equity of 10.18% and a net margin of 11.23%.The company had revenue of C$231.73 million during the quarter. As a group, analysts anticipate that International Petroleum Co. will post 0.1677866 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director William A.W. Lundin bought 20,000 shares of International Petroleum stock in a transaction on Thursday, December 18th. The stock was purchased at an average cost of C$24.26 per share, with a total value of C$485,200.00. Following the purchase, the director directly owned 822,202 shares of the company’s stock, valued at approximately C$19,946,620.52. This trade represents a 2.49% increase in their position. 35.60% of the stock is currently owned by corporate 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.