InPlay Oil (TSE:IPO) Trading Up 0.6% – Here’s Why

InPlay Oil Corp. (TSE:IPO)’s stock price was up 0.6% on Monday . The company traded as high as C$1.76 and last traded at C$1.72. Approximately 100,756 shares traded hands during mid-day trading, an increase of 19% from the average daily volume of 84,345 shares. The stock had previously closed at C$1.71.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on IPO shares. Acumen Capital reduced their target price on shares of InPlay Oil from C$3.75 to C$3.50 in a report on Friday, August 16th. Noble Financial upgraded shares of InPlay Oil to a “strong-buy” rating in a report on Monday, October 7th. Finally, Canaccord Genuity Group reduced their target price on shares of InPlay Oil from C$3.25 to C$3.00 in a report on Friday, November 15th.

InPlay Oil Price Performance

The stock has a market cap of C$152.30 million, a PE ratio of 5.76 and a beta of 2.37. The company has a current ratio of 1.00, a quick ratio of 0.51 and a debt-to-equity ratio of 19.86. The business has a 50-day moving average price of C$1.88 and a 200-day moving average price of C$2.07.

InPlay Oil Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 29th were issued a $0.015 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.18 dividend on an annualized basis and a yield of ∞. InPlay Oil’s payout ratio is currently 62.07%.

About InPlay Oil

InPlay Oil Corp. engages in the acquisition, exploration, development, and production of petroleum and natural gas properties in Canada. The company produces and sells crude oil, natural gas, and natural gas liquids. It focuses on light oil asset base located in West Central, Alberta. InPlay Oil Corp.