International Petroleum (TSE:IPCO) Hits New 1-Year High – Here’s Why

International Petroleum Co. (TSE:IPCO)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$21.28 and last traded at C$21.16, with a volume of 14077 shares. The stock had previously closed at C$20.94.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets raised their target price on shares of International Petroleum from C$18.00 to C$20.00 in a report on Tuesday, January 14th.

International Petroleum Stock Performance

The company has a debt-to-equity ratio of 47.72, a quick ratio of 3.93 and a current ratio of 1.92. The stock has a market cap of C$1.77 billion, a price-to-earnings ratio of 17.83 and a beta of 2.38. The stock has a fifty day simple moving average of C$18.31 and a two-hundred day simple moving average of C$17.40.

Insider Activity at International Petroleum

In related news, Director William A.W. Lundin acquired 6,250 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average price of C$15.39 per share, with a total value of C$96,187.50. 35.60% of the stock is currently owned by insiders.

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.