Inpex (OTCMKTS:IPXHY) Shares Gap Up – Time to Buy?

Shares of Inpex Corp. (OTCMKTS:IPXHY) gapped up prior to trading on Tuesday . The stock had previously closed at $23.75, but opened at $24.46. Inpex shares last traded at $24.46, with a volume of 738 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded Inpex to a “hold” rating in a research note on Thursday, June 4th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Inpex presently has a consensus rating of “Hold”.

Inpex Trading Up 2.2%

The business’s 50 day simple moving average is $21.67 and its 200 day simple moving average is $24.00. The stock has a market cap of $28.86 billion, a price-to-earnings ratio of 10.22 and a beta of 0.13. The company has a quick ratio of 1.17, a current ratio of 1.24 and a debt-to-equity ratio of 0.14.

About Inpex

INPEX is a Japan-based energy company primarily engaged in the exploration, development, production and sale of oil and natural gas resources. The company’s activities span upstream exploration and field development, midstream project execution — notably liquefied natural gas (LNG) facilities — and related resource management and commercial operations. INPEX’s portfolio includes conventional and unconventional hydrocarbon assets and associated engineering and project-management expertise to bring complex developments into production.

INPEX is known for participation and leadership in large-scale LNG projects, including the Ichthys LNG development off northern Australia, which represents a core midstream and export capability in the company’s business mix.