International Petroleum (TSE:IPCO) Trading Up 2.3% – Time to Buy?

Shares of International Petroleum Co. (TSE:IPCO) rose 2.3% during trading on Thursday . The stock traded as high as C$17.85 and last traded at C$17.69. Approximately 80,744 shares were traded during trading, an increase of 24% from the average daily volume of 65,279 shares. The stock had previously closed at C$17.29.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. ATB Capital lifted their price objective on shares of International Petroleum from C$19.00 to C$21.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 31st. BMO Capital Markets set a C$22.00 price target on shares of International Petroleum and gave the stock a “market perform” rating in a report on Thursday, August 22nd. Finally, Scotiabank increased their price objective on International Petroleum from C$20.00 to C$21.00 in a report on Friday, July 12th.

International Petroleum Stock Up 2.3 %

The company’s 50-day moving average is C$18.42 and its 200 day moving average is C$18.13. The stock has a market capitalization of C$2.14 billion, a PE ratio of 9.46 and a beta of 2.43. The company has a current ratio of 2.97, a quick ratio of 3.93 and a debt-to-equity ratio of 43.56.

International Petroleum Company Profile

International Petroleum Corporation explores for, develops, and produces oil and gas. The company holds a portfolio of oil and gas production assets and development projects in Canada, Malaysia, and France. International Petroleum Corporation was incorporated in 2017 and is based in Vancouver, Canada.