International Petroleum (TSE:IPCO) Shares Down 9.5% – Here’s Why

Shares of International Petroleum Co. (TSE:IPCO) were down 9.5% during trading on Wednesday . The stock traded as low as C$34.30 and last traded at C$34.65. Approximately 90,534 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 219,473 shares. The stock had previously closed at C$38.27.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Scotiabank increased their price objective on 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. BMO Capital Markets upgraded shares of International Petroleum from a “market perform” rating to an “outperform” rating and set a C$43.00 target price on the stock in a research note on Tuesday. Finally, Royal Bank Of Canada upped their target price on shares of International Petroleum from C$25.00 to C$27.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 11th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of C$32.00.

International Petroleum Stock Down 9.1%

The company has a market cap of C$3.93 billion, a P/E ratio of 139.20 and a beta of 0.22. The company has a debt-to-equity ratio of 52.52, a current ratio of 0.81 and a quick ratio of 3.93. The business’s 50 day moving average price is C$32.86 and its 200-day moving average price is C$27.55.

International Petroleum (TSE:IPCO) last released its quarterly earnings results on Tuesday, February 10th. The company reported C($0.05) EPS for the quarter. International Petroleum had a return on equity of 3.12% and a net margin of 3.90%.The business had revenue of C$231.73 million for the quarter. On average, analysts anticipate that International Petroleum Co. will post 0.1677866 earnings per share for the current fiscal year.

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.