International Petroleum (TSE:IPCO) Reaches New 12-Month High – Time to Buy?

Shares of International Petroleum Co. (TSE:IPCO) reached a new 52-week high on Wednesday . The company traded as high as C$20.61 and last traded at C$20.53, with a volume of 6253 shares traded. The stock had previously closed at C$20.34.

Wall Street Analyst Weigh In

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

International Petroleum Trading Up 1.7 %

The firm’s 50 day simple moving average is C$17.92 and its two-hundred day simple moving average is C$17.34. The company has a quick ratio of 3.93, a current ratio of 1.92 and a debt-to-equity ratio of 47.72. The stock has a market cap of C$1.74 billion, a P/E ratio of 17.50 and a beta of 2.38.

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 dated 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. 35.60% of the stock is currently owned by corporate 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.