International Petroleum (TSE:IPCO) Trading Up 0.7% – Here’s What Happened

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

Analysts Set New Price Targets

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

Get Our Latest Analysis on IPCO

International Petroleum Stock Up 0.7 %

The stock has a fifty day moving average price of C$17.18 and a two-hundred day moving average price of C$17.36. The company has a market cap of C$2.29 billion, a P/E ratio of 9.99 and a beta of 2.38. The company has a debt-to-equity ratio of 43.56, a current ratio of 2.97 and a quick ratio of 3.93.

Insiders Place Their Bets

In other International Petroleum news, Director William A.W. Lundin acquired 6,250 shares of International Petroleum stock in a transaction on Monday, December 23rd. The stock was purchased at an average price of C$15.39 per share, for a total transaction of C$96,187.50. Insiders own 35.60% of the company’s stock.

About International Petroleum

(Get Free Report)

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.

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