InPlay Oil (TSE:IPO) Shares Up 2.6% – Here’s What Happened

InPlay Oil Corp. (TSE:IPO)’s share price shot up 2.6% during trading on Tuesday . The stock traded as high as C$15.04 and last traded at C$15.01. 72,283 shares traded hands during trading, an increase of 21% from the average session volume of 59,882 shares. The stock had previously closed at C$14.63.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IPO. National Bankshares dropped their price target on InPlay Oil from C$16.00 to C$15.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 22nd. Canaccord Genuity Group lifted their price objective on shares of InPlay Oil from C$14.00 to C$15.00 in a research note on Thursday, November 13th. Two investment analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Strong Buy” and an average target price of C$15.25.

InPlay Oil Stock Performance

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 price of C$12.81 and a 200 day moving average price of C$12.10. The stock has a market cap of C$417.85 million, a P/E ratio of 300.20 and a beta of 0.72.

InPlay Oil Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were paid a dividend of $0.09 per share. This represents a c) dividend on an annualized basis and a yield of 7.2%. The ex-dividend date was Monday, December 15th. InPlay Oil’s payout ratio is 2,160.00%.

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. It derives revenue from selling its production of crude oil, natural gas and NGLs under variable price contracts.