International Petroleum (TSE:IPCO) Announces Earnings Results

International Petroleum (TSE:IPCO) released its earnings results on Tuesday. The company reported C$0.74 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of C$301.74 million for the quarter. International Petroleum had a net margin of 9.70% and a return on equity of 8.50%.

Here are the key takeaways from International Petroleum’s conference call:

• Blackrod is ramping ahead of expectations, with production exceeding 10,000 barrels per day and well pairs performing in line with or slightly above type-curve estimates. IPC continues to target 30,000 barrels per day by the end of 2027, with potential future expansion from 2028.
• Q3 operating cash flow was $79 million and free cash flow was $27 million, while net debt declined to $473 million and leverage fell to below 1.8 times trailing EBITDA. Full-year 2026 operating cash flow guidance is $275 million-$350 million, with free cash flow guidance of $35 million-$110 million.
• IPC raised 2026 capital expenditure guidance to $185 million from $163 million to fund additional thermal projects, including Onion Lake infill wells, Southern Alberta drilling and Blackrod resource maturation. Most of the resulting production contribution is expected in late 2026 and 2027.
• The company remains largely unhedged to benchmark Brent and WTI prices, preserving upside to strong oil prices, while maintaining more than $200 million of available Canadian bank liquidity. IPC also repurchased 1.3 million shares and plans to renew its normal-course issuer bid in December.

International Petroleum Stock Down 6.9%

Shares of TSE:IPCO opened at C$35.80 on Thursday. The business’s 50 day simple moving average is C$36.53 and its two-hundred day simple moving average is C$34.10. The firm has a market cap of C$3.99 billion, a P/E ratio of 188.42 and a beta of 0.40. The company has a debt-to-equity ratio of 52.00, a quick ratio of 3.93 and a current ratio of 1.09. International Petroleum has a 52-week low of C$23.26 and a 52-week high of C$40.93.

Analysts Set New Price Targets

IPCO has been the subject of a number of recent analyst reports. TD set a C$38.00 price target on International Petroleum and gave the stock a “hold” rating in a report on Friday, September 11th. National Bank Financial raised International Petroleum from a “sector perform” rating to an “outperform” rating and set a C$50.00 price objective on the stock in a research note on Wednesday. Finally, Scotiabank set a C$38.00 target price on International Petroleum and gave the company a “sector outperform” rating in a research report on Friday, July 17th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$39.20.

About International Petroleum

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.