International Petroleum (TSE:IPCO) Upgraded to “Outperform” at National Bank Financial

International Petroleum (TSE:IPCO) was upgraded by investment analysts at National Bank Financial from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, BayStreet reports. The brokerage presently has a C$50.00 price target on the stock. National Bank Financial‘s target price points to a potential upside of 39.39% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Scotiabank set a C$38.00 target price on International Petroleum and gave the stock a “sector outperform” rating in a research report on Friday, July 17th. TD set a C$38.00 target price on International Petroleum and gave the company a “hold” rating in a research report on Friday, September 11th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$39.20.

International Petroleum Price Performance

IPCO traded down C$2.58 during trading on Wednesday, hitting C$35.87. The company’s stock had a trading volume of 263,161 shares, compared to its average volume of 165,188. The firm’s 50 day moving average price is C$36.51 and its two-hundred day moving average price is C$34.05. The company has a quick ratio of 3.93, a current ratio of 0.97 and a debt-to-equity ratio of 56.91. International Petroleum has a 12 month low of C$23.26 and a 12 month high of C$40.93. The stock has a market capitalization of C$4.00 billion, a price-to-earnings ratio of 188.79 and a beta of 0.40.

International Petroleum (TSE:IPCO) last announced its earnings results on Tuesday, November 3rd. The company reported C$0.74 EPS for the quarter. International Petroleum had a return on equity of 2.33% and a net margin of 2.81%. The company had revenue of C$301.74 million for the quarter. Sell-side analysts forecast that International Petroleum will post 0.17 earnings per share for the current fiscal 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.