International Petroleum (TSE:IPCO) Rating Increased to Outperform at ATB Capital

International Petroleum (TSE:IPCO) was upgraded by equities research analysts at ATB Capital from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. The brokerage currently has a C$22.00 target price on the stock, up from their prior target price of C$21.00. ATB Capital’s target price would indicate a potential upside of 36.22% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Scotiabank upped their target price on shares of International Petroleum from C$20.00 to C$21.00 in a research note on Friday, July 12th. BMO Capital Markets dropped their target price on shares of International Petroleum from C$22.00 to C$20.00 in a research note on Friday, October 4th.

International Petroleum Trading Down 0.8 %

Shares of TSE IPCO opened at C$16.15 on Wednesday. The firm’s 50 day moving average price is C$18.03 and its 200-day moving average price is C$18.23. The company has a market cap of C$1.95 billion, a PE ratio of 8.64 and a beta of 2.38. International Petroleum has a 52-week low of C$13.23 and a 52-week high of C$20.59. The company has a debt-to-equity ratio of 43.56, a quick ratio of 3.93 and a current ratio of 2.97.

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.