GMP Securities Downgrades International Petroleum (IPCO) to Reduce

International Petroleum (TSE:IPCO) was downgraded by research analysts at GMP Securities from a “hold” rating to a “reduce” rating in a note issued to investors on Thursday.

Other equities analysts also recently issued research reports about the stock. BMO Capital Markets lifted their price objective on shares of International Petroleum from C$7.65 to C$7.75 in a report on Thursday, March 1st. Scotiabank lifted their price objective on shares of International Petroleum from C$8.25 to C$9.00 and gave the stock an “outperform” rating in a report on Wednesday, May 16th.

International Petroleum stock traded down C$0.27 during mid-day trading on Thursday, reaching C$8.93. The company’s stock had a trading volume of 4,544 shares, compared to its average volume of 2,624. International Petroleum has a twelve month low of C$3.42 and a twelve month high of C$9.54.

In other news, insider Daniel Fitzgerald purchased 13,305 shares of International Petroleum stock in a transaction dated Thursday, March 29th. The stock was bought at an average price of C$5.34 per share, with a total value of C$71,048.70.

International Petroleum Company Profile

International Petroleum Corporation operates as an oil and gas exploration and production company in Europe and South East Asia. The company holds interests in a portfolio of oil and gas assets located in Bertam, Malaysia; Paris and Aquitaine Basins, France; and the Netherlands. As at December 31, 2017, it had proved and probable reserves of 129.1 million barrels of oil equivalents.

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