International Petroleum (TSE:IPCO) Stock Price Down 9.5% – What’s Next?

International Petroleum Co. (TSE:IPCO) dropped 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 were traded 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.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IPCO. Scotiabank boosted their price objective on International Petroleum from C$24.00 to C$26.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 20th. Royal Bank Of Canada raised 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 research note on Wednesday, February 11th. Finally, BMO Capital Markets upgraded shares of International Petroleum from a “market perform” rating to an “outperform” rating and set a C$43.00 price target for the company in a research report on Tuesday. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of C$32.00.

International Petroleum Stock Up 4.2%

The firm has a market capitalization of C$4.10 billion, a PE ratio of 146.40 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 company has a 50-day moving average price of C$33.15 and a 200 day moving average price of C$27.66.

International Petroleum (TSE:IPCO) last released its earnings results on Tuesday, February 10th. The company reported C($0.05) earnings per share (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. Analysts forecast that International Petroleum Co. will post 0.1677866 earnings per share for the current year.

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.