International Petroleum (TSE:IPCO) Hits New 12-Month High – Still a Buy?

International Petroleum Co. (TSE:IPCO)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as C$35.47 and last traded at C$35.27, with a volume of 190395 shares trading hands. The stock had previously closed at C$34.14.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Scotiabank increased their price target on International Petroleum from C$24.00 to C$26.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 20th. Royal Bank Of Canada upped their price objective on shares of International Petroleum from C$25.00 to C$27.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 11th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of C$26.50.

International Petroleum Trading Up 3.3%

The company’s 50 day simple moving average is C$29.30 and its two-hundred day simple moving average is C$26.17. The company has a debt-to-equity ratio of 52.52, a current ratio of 0.81 and a quick ratio of 3.93. The company has a market cap of C$3.98 billion, a PE ratio of 141.08 and a beta of 0.73.

International Petroleum (TSE:IPCO) last announced its earnings results on Tuesday, February 10th. The company reported C($0.05) EPS for the quarter. The firm had revenue of C$231.73 million for the quarter. International Petroleum had a net margin of 3.90% and a return on equity of 3.12%. As a group, sell-side analysts anticipate that International Petroleum Co. will post 0.1677866 EPS for the current fiscal year.

Insider Activity

In related news, Director William A.W. Lundin acquired 20,000 shares of the stock in a transaction dated Thursday, December 18th. The stock was acquired at an average cost of C$24.26 per share, with a total value of C$485,200.00. Following the completion of the transaction, the director owned 822,202 shares in the company, valued at C$19,946,620.52. This represents a 2.49% increase in their position. Insiders own 35.60% of the company’s stock.

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.