Scotiabank Boosts International Petroleum (TSE:IPCO) Price Target to C$26.00

International Petroleum (TSE:IPCO) had its target price lifted by research analysts at Scotiabank from C$24.00 to C$26.00 in a research report issued on Tuesday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s target price suggests a potential downside of 2.59% from the company’s current price.

International Petroleum Stock Performance

IPCO stock opened at C$26.69 on Tuesday. The company has a debt-to-equity ratio of 47.72, a current ratio of 1.92 and a quick ratio of 3.93. International Petroleum has a 1 year low of C$16.32 and a 1 year high of C$28.89. The company has a market cap of C$2.99 billion, a P/E ratio of 92.03 and a beta of 0.53. The stock’s fifty day moving average price is C$25.65 and its 200-day moving average price is C$24.29.

International Petroleum (TSE:IPCO) last posted its earnings results on Tuesday, November 4th. The company reported C$0.03 earnings per share for the quarter. The company had revenue of C$239.91 million for the quarter. International Petroleum had a return on equity of 10.18% and a net margin of 11.23%. On average, equities analysts forecast that International Petroleum will post 0.1677866 earnings per share for the current year.

Insider Transactions at International Petroleum

In other International Petroleum news, Director William A.W. Lundin purchased 20,000 shares of the firm’s stock in a transaction on Thursday, December 18th. The shares were acquired at an average cost of C$24.26 per share, with a total value of C$485,200.00. Following the completion of the acquisition, the director directly owned 822,202 shares in the company, valued at C$19,946,620.52. The trade was a 2.49% increase in their ownership of the stock. Insiders own 35.60% of the company’s stock.

International Petroleum Company Profile

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. It is based in Canada and derives revenue from the sales of gas, crude oil, and natural gas liquids, of which key revenue is derived from the sales of crude oil.