BMO Capital Markets Forecasts Strong Price Appreciation for International Petroleum (TSE:IPCO) Stock

International Petroleum (TSE:IPCO) had its price objective upped by equities research analysts at BMO Capital Markets from C$18.00 to C$20.00 in a report released on Tuesday,BayStreet.CA reports. BMO Capital Markets’ price objective would suggest a potential upside of 5.65% from the company’s current price.

Separately, ATB Capital upgraded International Petroleum from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from C$21.00 to C$22.00 in a research note on Wednesday, October 16th.

International Petroleum Stock Performance

IPCO opened at C$18.93 on Tuesday. The company has a debt-to-equity ratio of 43.56, a current ratio of 2.97 and a quick ratio of 3.93. The company has a market capitalization of C$2.28 billion, a price-to-earnings ratio of 9.96 and a beta of 2.38. The business’s 50-day moving average price is C$15.99 and its two-hundred day moving average price is C$17.42. International Petroleum has a 1 year low of C$13.36 and a 1 year high of C$20.59.

Insider Activity at International Petroleum

In other news, Senior Officer Curtis White purchased 2,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were purchased at an average cost of C$15.24 per share, with a total value of C$30,480.00. Also, Director William A.W. Lundin acquired 6,250 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was purchased at an average cost of C$15.39 per share, with a total value of C$96,187.50. 35.60% of the stock is owned by insiders.

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.