International Petroleum (TSE:IPCO) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

International Petroleum (TSE:IPCO) had its price target hoisted by BMO Capital Markets from C$18.00 to C$20.00 in a report released on Tuesday,BayStreet.CA reports. BMO Capital Markets’ price target suggests a potential upside of 7.41% from the stock’s current price.

Separately, ATB Capital upgraded International Petroleum from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from C$21.00 to C$22.00 in a research note on Wednesday, October 16th.

International Petroleum Stock Up 1.4 %

Shares of TSE IPCO traded up C$0.26 during midday trading on Tuesday, reaching C$18.62. The company’s stock had a trading volume of 58,884 shares, compared to its average volume of 76,792. The company has a current ratio of 2.97, a quick ratio of 3.93 and a debt-to-equity ratio of 43.56. International Petroleum has a fifty-two week low of C$13.36 and a fifty-two week high of C$20.59. The stock has a 50 day simple moving average of C$15.93 and a 200-day simple moving average of C$17.42. The stock has a market capitalization of C$2.24 billion, a price-to-earnings ratio of 9.80 and a beta of 2.38.

Insider Transactions at International Petroleum

In related news, Senior Officer Curtis White acquired 2,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was purchased at an average cost of C$15.24 per share, with a total value of C$30,480.00. Also, Director William A.W. Lundin bought 6,250 shares of International Petroleum stock in a transaction dated Monday, December 23rd. The shares were bought 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.