International Petroleum (TSE:IPCO) Reaches New 12-Month High – Should You Buy?

International Petroleum Co. (TSE:IPCO) hit a new 52-week high on Wednesday . The stock traded as high as C$20.61 and last traded at C$20.53, with a volume of 6253 shares changing hands. The stock had previously closed at C$20.34.

Analyst Ratings Changes

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 Stock Performance

The stock has a market cap of C$1.74 billion, a P/E ratio of 17.47 and a beta of 2.38. The stock has a fifty day simple moving average of C$18.12 and a 200-day simple moving average of C$17.37. The company has a quick ratio of 3.93, a current ratio of 1.92 and a debt-to-equity ratio of 47.72.

Insider Activity at International Petroleum

In other news, Director William A.W. Lundin purchased 6,250 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was bought at an average price of C$15.39 per share, with a total value 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.