International Petroleum (TSE:IPCO) Shares Pass Above 200 Day Moving Average – Should You Sell?

International Petroleum Co. (TSE:IPCO) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$17.44 and traded as high as C$18.84. International Petroleum shares last traded at C$18.71, with a volume of 144,954 shares trading hands.

Wall Street Analyst Weigh In

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

International Petroleum Price Performance

The company has a market cap of C$1.57 billion, a PE ratio of 15.83 and a beta of 2.38. The firm’s 50-day moving average is C$18.86 and its 200-day moving average is C$17.44. The company has a quick ratio of 3.93, a current ratio of 1.92 and a debt-to-equity ratio of 47.72.

Insider Activity

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

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.