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

ATB Capital upgraded shares of International Petroleum (TSE:IPCO - Free Report) from a sector perform rating to an outperform rating in a research report report published on Wednesday morning, BayStreet.CA reports. ATB Capital currently has C$22.00 target price on the stock, up from their prior target price of C$21.00.

Other equities research analysts have also recently issued reports about the company. Scotiabank lifted their price objective on International Petroleum from C$20.00 to C$21.00 in a report on Friday, July 12th. BMO Capital Markets lowered their price target on International Petroleum from C$22.00 to C$20.00 in a research note on Friday, October 4th.

International Petroleum Price Performance

IPCO stock traded down C$0.63 during mid-day trading on Wednesday, reaching C$16.28. 91,612 shares of the company's stock were exchanged, compared to its average volume of 65,718. The company has a debt-to-equity ratio of 43.56, a current ratio of 2.97 and a quick ratio of 3.93. International Petroleum has a 12-month low of C$13.23 and a 12-month high of C$20.59. The stock's 50 day moving average is C$18.08 and its 200 day moving average is C$18.24. The company has a market cap of C$1.96 billion, a price-to-earnings ratio of 8.71 and a beta of 2.38.

About International Petroleum

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.