International Petroleum (TSE:IPCO) Reaches New 1-Year High – Still a Buy?

International Petroleum Co. (TSE:IPCO)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock 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 Analysts Forecast Growth

Separately, BMO Capital Markets lifted 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 Trading Up 1.7 %

The firm has a fifty day moving average of C$17.92 and a 200 day moving average of C$17.34. The firm has a market capitalization of C$1.74 billion, a PE ratio of 17.50 and a beta of 2.38. The company has a debt-to-equity ratio of 47.72, a quick ratio of 3.93 and a current ratio of 1.92.

Insider Activity

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

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.