International Petroleum (TSE:IPCO) Reaches New 52-Week High – Should You Buy?

International Petroleum Co. (TSE:IPCO)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as C$21.50 and last traded at C$21.43, with a volume of 16312 shares changing hands. The stock had previously closed at C$21.20.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets raised their target price on International Petroleum from C$18.00 to C$20.00 in a research report on Tuesday, January 14th.

International Petroleum Trading Up 1.5 %

The stock has a market cap of C$1.81 billion, a P/E ratio of 18.20 and a beta of 2.38. The company has a debt-to-equity ratio of 47.72, a quick ratio of 3.93 and a current ratio of 1.92. The stock’s fifty day moving average is C$19.46 and its 200 day moving average is C$17.46.

Insider Activity

In other news, Director William A.W. Lundin purchased 6,250 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average cost of C$15.39 per share, for a total transaction of C$96,187.50. Corporate insiders own 35.60% of the company’s stock.

About International Petroleum

International Petroleum Corporation explores for, develops, and produces oil and gas. The company holds a portfolio of oil and gas production assets and development projects in Canada, Malaysia, and France. International Petroleum Corporation was incorporated in 2017 and is based in Vancouver, Canada.