International Petroleum (TSE:IPCO) Trading 0.7% Higher – Should You Buy?

International Petroleum Co. (TSE:IPCO) rose 0.7% during mid-day trading on Tuesday . The stock traded as high as C$19.08 and last traded at C$18.99. Approximately 100,542 shares changed hands during mid-day trading, an increase of 32% from the average daily volume of 76,357 shares. The stock had previously closed at C$18.85.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. BMO Capital Markets boosted their price target on shares of International Petroleum from C$18.00 to C$20.00 in a research report on Tuesday, January 14th. ATB Capital upgraded International Petroleum from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from C$21.00 to C$22.00 in a research report on Wednesday, October 16th.

International Petroleum Price Performance

The company has a debt-to-equity ratio of 43.56, a current ratio of 2.97 and a quick ratio of 3.93. The firm has a market capitalization of C$2.29 billion, a PE ratio of 9.99 and a beta of 2.38. The business’s 50 day moving average is C$17.18 and its two-hundred day moving average is C$17.36.

Insider Activity

In other International Petroleum news, Director William A.W. Lundin purchased 6,250 shares of International Petroleum stock in a transaction on Monday, December 23rd. The shares were acquired 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.

International Petroleum Company Profile

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.