TD Reiterates “C$38.00” Price Target for International Petroleum (TSE:IPCO)

TD set a C$38.00 price objective on International Petroleum (TSE:IPCO) in a report issued on Friday morning,BayStreet reports. The brokerage currently has a hold rating on the stock.

Separately, Scotiabank set a C$38.00 price objective on International Petroleum and gave the company a “sector outperform” rating in a research report on Friday, July 17th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, International Petroleum currently has an average rating of “Hold” and a consensus price target of C$38.20.

International Petroleum Stock Down 3.0%

Shares of TSE IPCO opened at C$35.86 on Friday. International Petroleum has a 1 year low of C$20.74 and a 1 year high of C$39.47. The firm has a 50-day simple moving average of C$32.72 and a two-hundred day simple moving average of C$34.31. The company has a market cap of C$4.01 billion, a P/E ratio of 188.74 and a beta of 0.13. The company has a debt-to-equity ratio of 56.91, a current ratio of 0.97 and a quick ratio of 3.93.

International Petroleum (TSE:IPCO) last released its earnings results on Tuesday, August 4th. The company reported C$0.13 EPS for the quarter. International Petroleum had a return on equity of 2.33% and a net margin of 2.81%.The firm had revenue of C$263.89 million for the quarter. Research analysts anticipate that International Petroleum will post 0.1677866 earnings per share for the current year.

Insider Activity

In other news, Director William A.W. Lundin acquired 33,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were bought at an average price of C$30.69 per share, with a total value of C$1,012,770.00. Following the completion of the purchase, the director directly owned 624,012 shares in the company, valued at C$19,150,928.28. This trade represents a 5.58% increase in their ownership of the stock. Insiders own 35.60% of the company’s stock.

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.