Canaccord Genuity Group Cuts InPlay Oil (TSE:IPO) Price Target to C$3.00

InPlay Oil (TSE:IPO) had its target price lowered by Canaccord Genuity Group from C$3.25 to C$3.00 in a report published on Friday morning,BayStreet.CA reports.

A number of other research firms have also recently commented on IPO. Acumen Capital lowered their target price on InPlay Oil from C$3.75 to C$3.50 in a research note on Friday, August 16th. Noble Financial raised shares of InPlay Oil to a “strong-buy” rating in a research report on Monday, October 7th.

InPlay Oil Stock Performance

TSE:IPO opened at C$1.73 on Friday. InPlay Oil has a twelve month low of C$1.67 and a twelve month high of C$2.57. The company has a quick ratio of 0.51, a current ratio of 1.00 and a debt-to-equity ratio of 19.86. The stock has a market cap of C$155.91 million, a P/E ratio of 5.97 and a beta of 2.37. The business’s 50-day moving average price is C$1.96 and its two-hundred day moving average price is C$2.14.

InPlay Oil Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 29th will be paid a $0.015 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.18 dividend on an annualized basis and a yield of 10.40%. InPlay Oil’s payout ratio is presently 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.