Scotiabank Reiterates C$38.00 Price Target for International Petroleum (TSE:IPCO)

International Petroleum (TSE:IPCO – Get Free Report) has been assigned a C$38.00 price target by Scotiabank in a research note issued on Friday,BayStreet.CA reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 22.23% from the stock’s current price.

Several other research firms have also issued reports on IPCO. BMO Capital Markets upgraded shares of International Petroleum from a “market perform” rating to an “outperform” rating and set a C$43.00 target price on the stock in a report on Tuesday, April 7th. National Bank Financial set a C$45.00 price objective on International Petroleum and gave the stock a “sector perform” rating in a research report on Monday, May 4th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$38.25.

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International Petroleum Trading Up 2.2%

TSE:IPCO traded up C$0.68 on Friday, reaching C$31.09. 53,212 shares of the stock traded hands, compared to its average volume of 169,798. The company has a current ratio of 0.79, a quick ratio of 3.93 and a debt-to-equity ratio of 58.61. International Petroleum has a 1-year low of C$20.74 and a 1-year high of C$39.47. The company’s 50 day moving average is C$34.06 and its 200-day moving average is C$32.62. The firm has a market capitalization of C$3.51 billion, a price-to-earnings ratio of 141.32 and a beta of 0.12.

International Petroleum (TSE:IPCO – Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported C$0.15 earnings per share (EPS) for the quarter. International Petroleum had a net margin of 3.51% and a return on equity of 2.73%. The firm had revenue of C$240.53 million for the quarter. Equities research analysts anticipate that International Petroleum will post 0.1677866 EPS for the current fiscal year.

International Petroleum Company Profile

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International Petroleum Corp is an international oil and gas exploration and production company. It is engaged in the exploration, development, and production of oil and gas. Geographically, the company holds a portfolio of oil and gas production assets and development projects in Canada, Malaysia and France. It is based in Canada and derives revenue from the sales of gas, crude oil, and natural gas liquids, of which key revenue is derived from the sales of crude oil.

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