InPlay Oil (TSE:IPO) Stock Price Down 1.4% – Here’s Why

Shares of InPlay Oil Corp. (TSE:IPO) traded down 1.4% during mid-day trading on Friday . The stock traded as low as C$16.48 and last traded at C$16.59. 106,662 shares were traded during mid-day trading, a decline of 9% from the average session volume of 117,638 shares. The stock had previously closed at C$16.83.

Analyst Upgrades and Downgrades

Separately, Acumen Capital boosted their price target on InPlay Oil from C$17.00 to C$17.50 and gave the company a “buy” rating in a research note on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of C$16.38.

InPlay Oil Trading Down 1.4%

The firm has a market capitalization of C$464.62 million, a price-to-earnings ratio of -12.11 and a beta of 0.34. The company has a debt-to-equity ratio of 72.27, a current ratio of 0.82 and a quick ratio of 0.51. The firm’s 50-day simple moving average is C$16.89 and its 200 day simple moving average is C$15.34.

InPlay Oil (TSE:IPO) last announced its quarterly earnings data on Friday, May 8th. The company reported C($1.24) EPS for the quarter. InPlay Oil had a negative net margin of 12.40% and a negative return on equity of 10.86%. The firm had revenue of C$31.77 million for the quarter. Equities analysts expect that InPlay Oil Corp. will post 0.3500838 earnings per share for the current year.

InPlay Oil Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.09 per share. This represents a c) annualized dividend and a yield of 6.5%. The ex-dividend date is Monday, June 15th. InPlay Oil’s payout ratio is currently -78.83%.

Insider Activity

In other news, insider Kevin Yakiwchuk sold 12,285 shares of the company’s stock in a transaction on Friday, March 27th. The shares were sold at an average price of C$18.18, for a total transaction of C$223,341.30. Following the completion of the transaction, the insider directly owned 137,256 shares in the company, valued at approximately C$2,495,314.08. This represents a 8.22% decrease in their ownership of the stock. Company insiders own 25.31% of the company’s stock.

About InPlay Oil

InPlay is a junior oil and gas exploration and production company with operations in Alberta focused on light oil production. The company operates long-lived, low-decline properties with drilling development and enhanced oil recovery potential as well as undeveloped lands with exploration possibilities.