InPlay Oil (TSE:IPO) Stock Price Down 10.2% – Here’s What Happened

InPlay Oil Corp. (TSE:IPO)’s share price fell 10.2% during trading on Wednesday . The stock traded as low as C$14.92 and last traded at C$15.50. 169,885 shares traded hands during mid-day trading, an increase of 99% from the average session volume of 85,450 shares. The stock had previously closed at C$17.27.

Analyst Ratings Changes

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 three have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, InPlay Oil currently has a consensus rating of “Buy” and a consensus target price of C$15.70.

InPlay Oil Trading Down 7.9%

The company has a quick ratio of 0.51, a current ratio of 1.10 and a debt-to-equity ratio of 61.06. The firm has a market capitalization of C$443.28 million, a P/E ratio of -49.69 and a beta of 0.42. The firm has a 50 day moving average of C$16.60 and a 200-day moving average of C$14.12.

InPlay Oil (TSE:IPO) last issued its quarterly earnings results on Thursday, March 5th. The company reported C$1.10 earnings per share (EPS) for the quarter. The business had revenue of C$82.94 million during the quarter. InPlay Oil had a negative return on equity of 2.22% and a negative net margin of 2.79%. On average, equities research analysts predict that InPlay Oil Corp. will post 0.3500838 earnings per share for the current fiscal year.

InPlay Oil Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 30th will be paid a dividend of $0.09 per share. The ex-dividend date is Wednesday, April 15th. This represents a c) annualized dividend and a yield of 6.8%. InPlay Oil’s dividend payout ratio is presently -337.50%.

Insiders Place Their Bets

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

About InPlay Oil

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.