International Petroleum (TSE:IPCO) Shares Pass Above 200-Day Moving Average – Here’s Why

International Petroleum Co. (TSE:IPCO) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 traded.

Analyst Ratings Changes

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

International Petroleum Stock Performance

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 company has a fifty day moving average price of C$18.86 and a 200 day moving average price of C$17.44. The stock has a market cap of C$1.57 billion, a PE ratio of 15.83 and a beta of 2.38.

Insiders Place Their Bets

In other news, Director William A.W. Lundin purchased 6,250 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were acquired at an average price of C$15.39 per share, with a total value of C$96,187.50. 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.