International Petroleum (TSE:IPCO) Shares Break Above Fifty Day Moving Average – Time to Sell?

International Petroleum Co. (TSE:IPCO)’s share price passed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of C$36.61 and traded as high as C$37.13. International Petroleum shares last traded at C$37.05, with a volume of 371,928 shares traded.

Wall Street Analyst Weigh In

Several analysts have weighed in on IPCO shares. TD set a C$38.00 price objective on International Petroleum and gave the company a “hold” rating in a research report on Friday, September 11th. National Bank Financial upgraded shares of International Petroleum from a “sector perform” rating to an “outperform” rating and set a C$50.00 target price on the stock in a report on Wednesday, November 4th. Finally, Scotiabank set a C$38.00 target price on shares of International Petroleum and gave the stock a “sector outperform” rating in a research note on Friday, July 17th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$39.20.

International Petroleum Stock Performance

The company has a market cap of C$4.13 billion, a PE ratio of 53.70 and a beta of 0.40. The company has a current ratio of 1.09, a quick ratio of 3.93 and a debt-to-equity ratio of 52.00. The business has a fifty day moving average of C$36.61 and a 200-day moving average of C$34.30.

International Petroleum (TSE:IPCO) last released its quarterly earnings results on Tuesday, November 3rd. The company reported C$0.74 EPS for the quarter. International Petroleum had a return on equity of 8.50% and a net margin of 9.70%. The business had revenue of C$301.74 million during the quarter. Equities research analysts anticipate that International Petroleum Co. 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.