International Petroleum (TSE:IPCO) Trading 2.3% Higher – Here’s Why

International Petroleum Co. (TSE:IPCO) shares were up 2.3% during mid-day trading on Thursday . The stock traded as high as C$17.85 and last traded at C$17.69. Approximately 80,744 shares traded hands during mid-day trading, an increase of 24% from the average daily volume of 65,279 shares. The stock had previously closed at C$17.29.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. ATB Capital increased their price target on shares of International Petroleum from C$19.00 to C$21.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 31st. Scotiabank upped their price target on International Petroleum from C$20.00 to C$21.00 in a research report on Friday, July 12th. Finally, BMO Capital Markets lowered their price objective on International Petroleum from C$22.00 to C$20.00 in a research report on Friday.

International Petroleum Price Performance

The company has a debt-to-equity ratio of 43.56, a quick ratio of 3.93 and a current ratio of 2.97. The stock has a 50 day moving average of C$18.35 and a 200-day moving average of C$18.13. The company has a market cap of C$2.12 billion, a PE ratio of 9.40 and a beta of 2.43.

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.