International Petroleum (TSE:IPCO) Stock Price Up 3.1% – Still a Buy?

International Petroleum Co. (TSE:IPCO) traded up 3.1% during mid-day trading on Thursday . The stock traded as high as C$24.31 and last traded at C$24.19. 184,567 shares changed hands during trading, an increase of 13% from the average session volume of 164,042 shares. The stock had previously closed at C$23.47.

Wall Street Analysts Forecast Growth

Separately, Scotiabank lifted their price target on International Petroleum from C$23.00 to C$24.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of C$23.33.

International Petroleum Trading Up 3.1%

The stock has a market cap of C$2.71 billion, a PE ratio of 83.41 and a beta of 0.53. The business’s fifty day moving average is C$25.42 and its 200 day moving average is C$24.06. The company has a quick ratio of 3.93, a current ratio of 1.92 and a debt-to-equity ratio of 47.72.

International Petroleum (TSE:IPCO) last issued its earnings results on Tuesday, November 4th. The company reported C$0.03 earnings per share (EPS) for the quarter. International Petroleum had a net margin of 11.23% and a return on equity of 10.18%. The company had revenue of C$239.91 million during the quarter. As a group, analysts predict that International Petroleum Co. will post 0.1677866 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director William A.W. Lundin acquired 20,000 shares of the company’s stock in a transaction that occurred 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 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.