InPlay Oil (TSE:IPO) Trading Up 1.9% - Time to Buy?

Key Points

• InPlay Oil Corp shares increased by 1.9% during trading, closing at C$12.58 despite a 22% decline in average daily volume.
• Analysts have upgraded InPlay Oil with a consensus rating of “Strong Buy” and an average price target forecast of C$12.50, with some expectations reaching as high as C$18.00.
• The company recently announced a dividend of $0.09 per share, yielding an extraordinary 950.0%, although its dividend payout ratio stands at a negative -720.00%.

Shares of InPlay Oil Corp. (TSE:IPO - Get Free Report) rose 1.9% during trading on Tuesday . The company traded as high as C$12.60 and last traded at C$12.58. Approximately 45,174 shares traded hands during trading, a decline of 22% from the average daily volume of 57,835 shares. The stock had previously closed at C$12.35.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. National Bank Financial upgraded InPlay Oil to a "strong-buy" rating in a report on Sunday, September 7th. Roth Capital set a C$18.00 price objective on InPlay Oil and gave the stock a "buy" rating in a report on Monday, July 14th. National Bankshares set a C$16.00 target price on shares of InPlay Oil and gave the stock an "outperform" rating in a report on Monday, September 8th. Finally, ATB Capital set a C$13.00 target price on shares of InPlay Oil and gave the stock an "outperform" rating in a research report on Thursday, June 5th. Three research analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Strong Buy" and an average price target of C$12.50.

InPlay Oil Trading Up 1.9%

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 company has a fifty day moving average of C$11.46 and a 200-day moving average of C$8.42. The firm has a market capitalization of C$349.80 million, a PE ratio of -83.87 and a beta of 1.09.

InPlay Oil Dividend Announcement

The company also recently disclosed a sep 25 dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 29th were issued a dividend of $0.09 per share. This represents a dividend yield of 950.0%. The ex-dividend date of this dividend was Monday, September 15th. InPlay Oil's dividend payout ratio is currently -720.00%.

Insider Activity

In other news, Director Douglas Bartole sold 7,689 shares of the company's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of C$11.38, for a total value of C$87,500.82. Following the sale, the director 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 position. Also, insider Darren W. Dittmer sold 2,200 shares of the company's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of C$12.00, for a total transaction of C$26,400.00. Following the transaction, the insider owned 172,644 shares in the company, valued at approximately C$2,071,728. This trade represents a 1.26% decrease in their position. Over the last ninety days, insiders sold 10,389 shares of company stock worth $120,251. 25.31% of the stock is currently owned by company insiders.

InPlay Oil Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.