International Petroleum (TSE:IPCO) Stock Passes Below 50 Day Moving Average – Here’s Why
by Amy Steele · The Cerbat GemShares of International Petroleum Co. (TSE:IPCO – Get Free Report) crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$32.85 and traded as low as C$29.79. International Petroleum shares last traded at C$30.58, with a volume of 418,384 shares trading hands.
Analysts Set New Price Targets
Several research analysts have recently weighed in on the stock. National Bank Financial set a C$45.00 price objective on shares of International Petroleum and gave the stock a “sector perform” rating in a research note on Monday, May 4th. BMO Capital Markets upgraded shares of International Petroleum from a “market perform” rating to an “outperform” rating and set a C$43.00 target price for the company in a research note on Tuesday, April 7th. Finally, Scotiabank set a C$38.00 price target on International Petroleum and gave the stock a “sector outperform” rating in a report on Friday, July 17th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, International Petroleum presently has a consensus rating of “Moderate Buy” and an average target price of C$38.25.
Check Out Our Latest Research Report on International Petroleum
International Petroleum Stock Performance
The company has a debt-to-equity ratio of 58.61, a current ratio of 0.79 and a quick ratio of 3.93. The stock’s 50-day simple moving average is C$32.72 and its 200 day simple moving average is C$33.08. The stock has a market capitalization of C$3.57 billion, a P/E ratio of 143.64 and a beta of 0.12.
International Petroleum (TSE:IPCO – Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported C$0.15 earnings per share for the quarter. The company had revenue of C$240.53 million for the quarter. International Petroleum had a net margin of 3.51% and a return on equity of 2.73%. Research analysts expect that International Petroleum Co. will post 0.1677866 EPS for the current fiscal year.
International Petroleum Company Profile
International Petroleum Corp is an international oil and gas exploration and production company. It is engaged in the exploration, development, and production of oil and gas. Geographically, the company holds a portfolio of oil and gas production assets and development projects in Canada, Malaysia and France. It is based in Canada and derives revenue from the sales of gas, crude oil, and natural gas liquids, of which key revenue is derived from the sales of crude oil.