International Petroleum Co. (OTCMKTS:IPCFF) Sees Significant Decline in Short Interest

International Petroleum Co. (OTCMKTS:IPCFF) was the recipient of a large decrease in short interest during the month of July. As of July 31st, there was short interest totaling 490,204 shares, a decrease of 48.9% from the July 15th total of 958,721 shares. Based on an average daily volume of 22,732 shares, the days-to-cover ratio is currently 21.6 days.

International Petroleum Stock Up 3.0%

IPCFF traded up $0.71 during midday trading on Monday, hitting $24.25. The company’s stock had a trading volume of 1,106 shares, compared to its average volume of 22,645. International Petroleum has a 52-week low of $14.91 and a 52-week high of $28.34. The firm has a 50-day moving average price of $22.56 and a two-hundred day moving average price of $24.17.

Wall Street Analyst Weigh In

Separately, Scotiabank raised International Petroleum from a “sector perform” rating to an “outperform” rating in a research note on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, International Petroleum has a consensus rating of “Moderate Buy”.

About International Petroleum

International Petroleum Corporation (OTCMKTS: IPCFF) is an independent upstream oil and gas company focused on acquiring, exploring, developing and producing hydrocarbon assets in Southeast Asia and Europe. Headquartered in Singapore, the company builds value through selective exploration and development projects that leverage its operational expertise and strategic partnerships.

The company’s core producing assets are located offshore in the Gulf of Thailand, where it holds interests in the S1 and S2 concessions.