International Petroleum (TSE:IPCO) Shares Up 0.7% - Time to Buy?

International Petroleum Co. (TSE:IPCO - Get Free Report) shares shot up 0.7% during trading on Tuesday . The company traded as high as C$19.08 and last traded at C$18.99. 100,542 shares traded hands during mid-day trading, an increase of 32% from the average session volume of 76,357 shares. The stock had previously closed at C$18.85.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on IPCO shares. BMO Capital Markets lifted their price objective on International Petroleum from C$18.00 to C$20.00 in a report on Tuesday, January 14th. ATB Capital raised shares of International Petroleum from a "sector perform" rating to an "outperform" rating and raised their price target for the stock from C$21.00 to C$22.00 in a research report on Wednesday, October 16th.

International Petroleum Price Performance

The business's 50-day simple moving average is C$17.37 and its 200 day simple moving average is C$17.38. The company has a market capitalization of C$2.30 billion, a P/E ratio of 10.06 and a beta of 2.38. The company has a current ratio of 2.97, a quick ratio of 3.93 and a debt-to-equity ratio of 43.56.

Insiders Place Their Bets

In other International Petroleum news, Director William A.W. Lundin bought 6,250 shares of International Petroleum stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost of C$15.39 per share, for a total transaction of C$96,187.50. 35.60% of the stock is currently 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.