International Petroleum (TSE:IPCO) Price Target Raised to C$26.00

International Petroleum (TSE:IPCO) had its target price raised by research analysts at Scotiabank from C$24.00 to C$26.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price target suggests a potential upside of 2.56% from the company’s previous close.

International Petroleum Stock Performance

TSE:IPCO traded down C$0.05 during mid-day trading on Tuesday, hitting C$25.35. 50,484 shares of the company’s stock traded hands, compared to its average volume of 116,425. The firm has a market capitalization of C$2.84 billion, a price-to-earnings ratio of 87.41 and a beta of 0.53. The firm has a 50 day moving average of C$25.66 and a two-hundred day moving average of C$24.25. The company has a current ratio of 1.92, a quick ratio of 3.93 and a debt-to-equity ratio of 47.72. International Petroleum has a 12 month low of C$16.32 and a 12 month high of C$28.89.

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

Insider Transactions at International Petroleum

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