InPlay Oil (TSE:IPO) Upgraded to Strong-Buy at National Bank Financial

Key Points

• InPlay Oil has received a "strong-buy" rating upgrade from National Bank Financial, indicating strong investor confidence in the stock.
• National Bankshares set a price objective of C$16.00 for InPlay Oil, while Roth Capital set a higher target of C$18.00.
• The company has a market capitalization of C$328.94 million and recently reported a price-to-earnings ratio of -78.87, indicating potential challenges in profitability.

InPlay Oil (TSE:IPO - Get Free Report) was upgraded by National Bank Financial to a "strong-buy" rating in a research note issued on Sunday, September 7th,Zacks.com reports.

Several other equities research analysts have also issued reports on IPO. National Bankshares set a C$16.00 price objective on InPlay Oil and gave the company an "outperform" rating in a research note on Monday, September 8th. ATB Capital set a C$13.00 price objective on InPlay Oil and gave the company an "outperform" rating in a research note on Thursday, June 5th. Finally, Roth Capital set a C$18.00 price objective on InPlay Oil and gave the company a "buy" rating in a research note on Monday, July 14th. Three analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Strong Buy" and an average price target of C$12.50.

InPlay Oil Stock Performance

Shares of TSE IPO traded down C$0.11 during mid-day trading on Friday, hitting C$12.43. The company had a trading volume of 30,311 shares, compared to its average volume of 57,444. The company has a market capitalization of C$345.63 million, a price-to-earnings ratio of -82.87 and a beta of 1.09. InPlay Oil has a 1 year low of C$6.54 and a 1 year high of C$13.02. The company has a current ratio of 0.61, a quick ratio of 0.51 and a debt-to-equity ratio of 20.44. The stock's 50-day moving average price is C$10.81 and its 200-day moving average price is C$7.56.

Insider Activity

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

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.