International Petroleum (TSE:IPCO) Stock Jumps 1.8% – Still a Buy?

Shares of International Petroleum Co. (TSE:IPCO) traded up 1.8% on Friday. The company traded as high as C$35.11 and last traded at C$34.89. 71,083 shares were traded during trading, a decline of 57% from the average daily volume of 166,824 shares. The stock had previously closed at C$34.28.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. TD set a C$38.00 price objective on International Petroleum and gave the company a “hold” rating in a research note on Friday, September 11th. Scotiabank set a C$38.00 target price on International Petroleum and gave the stock a “sector outperform” rating in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, International Petroleum currently has an average rating of “Hold” and a consensus target price of C$38.20.

International Petroleum Trading Up 1.8%

The company has a quick ratio of 3.93, a current ratio of 0.97 and a debt-to-equity ratio of 56.91. The company has a market capitalization of C$3.90 billion, a P/E ratio of 183.63 and a beta of 0.13. The firm’s 50-day moving average price is C$33.93 and its 200 day moving average price is C$34.53.

International Petroleum (TSE:IPCO) last announced its quarterly earnings results on Tuesday, August 4th. The company reported C$0.13 earnings per share for the quarter. The business had revenue of C$263.89 million for the quarter. International Petroleum had a net margin of 2.81% and a return on equity of 2.33%. As a group, equities research analysts predict that International Petroleum Co. will post 0.1677866 earnings per share for the current year.

Insider Transactions at International Petroleum

In other news, Director William A.W. Lundin acquired 33,000 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were purchased at an average cost of C$30.69 per share, with a total value of C$1,012,770.00. Following the acquisition, the director directly owned 624,012 shares of the company’s stock, valued at C$19,150,928.28. The trade was a 5.58% increase in their ownership of the stock. Company insiders own 35.60% of the company’s stock.

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.