Short Interest in International Petroleum Co. (OTCMKTS:IPCFF) Drops By 48.9%

International Petroleum Co. (OTCMKTS:IPCFF) was the recipient of a significant decline in short interest during the month of July. As of July 31st, there was short interest totaling 490,204 shares, a decline of 48.9% from the July 15th total of 958,721 shares. Based on an average daily volume of 22,732 shares, the short-interest ratio is presently 21.6 days.

International Petroleum Stock Up 2.8%

Shares of OTCMKTS:IPCFF traded up $0.65 during trading on Friday, hitting $23.54. 2,357 shares of the company traded hands, compared to its average volume of 22,836. The business’s fifty day moving average is $22.56 and its 200-day moving average is $24.13. International Petroleum has a one year low of $14.91 and a one year high of $28.34.

Analysts Set New Price Targets

Separately, Scotiabank upgraded shares of International Petroleum from a “sector perform” rating to an “outperform” rating in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, International Petroleum currently has an average rating of “Moderate Buy”.

International Petroleum Company Profile

International Petroleum Corporation (OTCMKTS: IPCFF) is an independent upstream oil and gas company focused on acquiring, exploring, developing and producing hydrocarbon assets in Southeast Asia and Europe. Headquartered in Singapore, the company builds value through selective exploration and development projects that leverage its operational expertise and strategic partnerships.

The company’s core producing assets are located offshore in the Gulf of Thailand, where it holds interests in the S1 and S2 concessions.