International Petroleum (TSE:IPCO) Stock Passes Below Fifty Day Moving Average – What’s Next?

International Petroleum Co. (TSE:IPCO) passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$31.80 and traded as low as C$31.80. International Petroleum shares last traded at C$32.04, with a volume of 87,574 shares changing hands.

Wall Street Analysts Forecast Growth

IPCO has been the subject of a number of recent research reports. National Bank Financial set a C$45.00 price objective on International Petroleum and gave the company a “sector perform” rating in a research report on Monday, May 4th. Scotiabank set a C$38.00 target price on International Petroleum and gave the stock a “sector outperform” rating in a report on Friday, July 17th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$38.25.

International Petroleum Trading Down 1.4%

The company has a current ratio of 0.97, a quick ratio of 3.93 and a debt-to-equity ratio of 56.91. The stock has a market cap of C$3.61 billion, a price-to-earnings ratio of 168.63 and a beta of 0.09. The company has a fifty day simple moving average of C$31.80 and a 200-day simple moving average of C$33.48.

International Petroleum (TSE:IPCO) last announced its earnings results on Tuesday, August 4th. The company reported C$0.13 EPS for the quarter. The company had revenue of C$263.89 million during the quarter. International Petroleum had a net margin of 2.81% and a return on equity of 2.33%. On average, research analysts forecast that International Petroleum Co. will post 0.1677866 earnings per share for the current fiscal year.

Insider Activity at International Petroleum

In other news, Director William A.W. Lundin acquired 33,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was purchased at an average price of C$30.69 per share, with a total value of C$1,012,770.00. Following the purchase, the director owned 624,012 shares of the company’s stock, valued at approximately C$19,150,928.28. This trade represents a 5.58% increase in their position. Company 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.