International Petroleum Co. (OTCMKTS:IPCFF) Sees Significant Increase in Short Interest

International Petroleum Co. (OTCMKTS:IPCFF – Get Rating) saw a significant growth in short interest during the month of July. As of July 15th, there was short interest totalling 137,700 shares, a growth of 26.4% from the June 30th total of 108,900 shares. Based on an average daily volume of 6,800 shares, the days-to-cover ratio is currently 20.3 days.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IPCFF. Stifel Nicolaus raised their target price on shares of International Petroleum from C$17.00 to C$18.25 in a report on Thursday, June 30th. Barclays lifted their price target on shares of International Petroleum from SEK 160 to SEK 170 and gave the stock an “overweight” rating in a research note on Friday, July 15th. Finally, Scotiabank lifted their price target on shares of International Petroleum from C$14.00 to C$17.00 in a research note on Wednesday, June 8th.

International Petroleum Trading Down 1.2 %

Shares of International Petroleum stock opened at $12.15 on Tuesday. International Petroleum has a 1-year low of $4.42 and a 1-year high of $13.50. The company’s fifty day simple moving average is $10.34 and its 200-day simple moving average is $9.08.

About International Petroleum

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International Petroleum Corporation explores for, develops, and produces oil and gas. The company holds a portfolio of oil and gas assets in Canada, Malaysia, and France. International Petroleum Corporation was incorporated in 2017 and is headquartered in Vancouver, Canada.