BMO Capital Markets Forecasts Strong Price Appreciation for International Petroleum (TSE:IPCO) Stock

International Petroleum (TSE:IPCO) had its price objective raised by stock analysts at BMO Capital Markets from C$18.00 to C$20.00 in a research note issued on Tuesday,BayStreet.CA reports. BMO Capital Markets’ price target would indicate a potential upside of 5.65% from the stock’s previous close.

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

International Petroleum Trading Up 1.5 %

Shares of International Petroleum stock opened at C$18.93 on Tuesday. The company’s fifty day moving average price is C$15.99 and its two-hundred day moving average price is C$17.42. The firm has a market capitalization of C$2.28 billion, a PE ratio of 9.96 and a beta of 2.38. International Petroleum has a 52-week low of C$13.36 and a 52-week high of C$20.59. The company has a debt-to-equity ratio of 43.56, a current ratio of 2.97 and a quick ratio of 3.93.

Insiders Place Their Bets

In related news, Director William A.W. Lundin bought 6,250 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were purchased at an average price of C$15.39 per share, with a total value of C$96,187.50. Also, Senior Officer Curtis White purchased 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was purchased at an average price of C$15.24 per share, for a total transaction of C$30,480.00. Insiders own 35.60% of the company’s stock.

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.