International Petroleum (TSE:IPCO) Stock Price Up 3.7% – Here’s What Happened

International Petroleum Co. (TSE:IPCO) shot up 3.7% on Tuesday . The stock traded as high as C$23.80 and last traded at C$23.54. 134,156 shares were traded during trading, an increase of 35% from the average session volume of 99,473 shares. The stock had previously closed at C$22.70.

Analyst Upgrades and Downgrades

Several research firms have weighed in on IPCO. Royal Bank Of Canada set a C$26.00 target price on International Petroleum and gave the stock a “sector perform” rating in a research note on Tuesday, September 2nd. Scotiabank upped their target price on International Petroleum from C$23.00 to C$24.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$23.33.

International Petroleum Stock Up 3.7%

The company has a market capitalization of C$2.64 billion, a P/E ratio of 53.50 and a beta of 0.69. The company has a current ratio of 1.92, a quick ratio of 3.93 and a debt-to-equity ratio of 47.72. The stock has a 50 day moving average price of C$23.45 and a 200 day moving average price of C$22.33.

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.