International Petroleum (TSE:IPCO) Stock Crosses Below 50-Day Moving Average – Here’s Why

International Petroleum Co. (TSE:IPCO)’s stock price passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$32.85 and traded as low as C$29.79. International Petroleum shares last traded at C$30.58, with a volume of 418,384 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on IPCO shares. Scotiabank set a C$38.00 price target on International Petroleum and gave the company a “sector outperform” rating in a report on Friday, July 17th. National Bank Financial set a C$45.00 price objective on International Petroleum and gave the stock a “sector perform” rating in a report on Monday, May 4th. Finally, BMO Capital Markets upgraded International Petroleum from a “market perform” rating to an “outperform” rating and set a C$43.00 target price for the company in a research report on Tuesday, April 7th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$38.25.

International Petroleum Trading Up 3.1%

The company has a debt-to-equity ratio of 58.61, a quick ratio of 3.93 and a current ratio of 0.79. The stock’s fifty day moving average is C$32.85 and its 200 day moving average is C$33.03. The stock has a market cap of C$3.45 billion, a P/E ratio of 139.00 and a beta of 0.12.

International Petroleum (TSE:IPCO) last issued its earnings results on Tuesday, May 5th. The company reported C$0.15 earnings per share (EPS) for the quarter. International Petroleum had a net margin of 3.51% and a return on equity of 2.73%. The firm had revenue of C$240.53 million during the quarter. As a group, equities research analysts predict that International Petroleum Co. will post 0.1677866 earnings per share for the current fiscal year.

International Petroleum Company Profile

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.