Canaccord Genuity Group Issues Positive Forecast for InPlay Oil (TSE:IPO) Stock Price

InPlay Oil (TSE:IPO) had its target price hoisted by Canaccord Genuity Group from C$14.00 to C$15.00 in a report published on Thursday morning,BayStreet.CA reports.

Several other research analysts also recently commented on the company. National Bankshares reduced their price objective on InPlay Oil from C$16.00 to C$15.00 and set an “outperform” rating on the stock in a report on Wednesday, October 22nd. National Bank Financial upgraded InPlay Oil to a “strong-buy” rating in a research note on Sunday, September 7th. Two equities research analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Strong Buy” and an average target price of C$12.80.

InPlay Oil Price Performance

InPlay Oil stock opened at C$12.95 on Thursday. The company has a debt-to-equity ratio of 20.44, a current ratio of 0.61 and a quick ratio of 0.51. The stock has a market cap of C$360.09 million, a price-to-earnings ratio of -86.33 and a beta of 0.63. The firm has a 50-day moving average of C$12.38 and a two-hundred day moving average of C$10.56. InPlay Oil has a 1 year low of C$6.54 and a 1 year high of C$13.73.

InPlay Oil Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 28th will be issued a $0.09 dividend. The ex-dividend date is Friday, November 14th. This represents a c) dividend on an annualized basis and a dividend yield of 8.3%. InPlay Oil’s dividend payout ratio (DPR) is currently -720.00%.

Insider Buying and Selling at InPlay Oil

In other InPlay Oil news, Director Douglas Bartole sold 7,689 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of C$11.38, for a total transaction of C$87,500.82. Following the completion of the sale, the director directly owned 341,810 shares of the company’s stock, valued at approximately C$3,889,797.80. This represents a 2.20% decrease in their ownership of the stock. Also, insider Darren W. Dittmer sold 2,200 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of C$12.00, for a total transaction of C$26,400.00. Following the completion of the sale, the insider owned 172,644 shares in the company, valued at C$2,071,728. This represents a 1.26% decrease in their ownership of the stock. Over the last three months, insiders sold 10,389 shares of company stock valued at $120,251. Corporate insiders own 25.31% of the company’s stock.

About InPlay Oil

InPlay Oil Corp is oil development and production company based in Calgary, Alberta. It is engaged in the acquisition, exploration, and development of petroleum and natural gas properties, and the production and sale of crude oil, natural gas, and natural gas liquids. The company’s operations are focused on a concentrated light oil asset base located in West Central Alberta.