InPlay Oil (TSE:IPO) Given New C$15.00 Price Target at Canaccord Genuity Group

InPlay Oil (TSE:IPO) had its target price upped by Canaccord Genuity Group from C$14.00 to C$15.00 in a research report issued on Thursday,BayStreet.CA reports. Canaccord Genuity Group’s price target indicates a potential upside of 15.83% from the company’s current price.

Several other equities analysts have also weighed in on the stock. National Bank Financial upgraded shares of InPlay Oil to a “strong-buy” rating in a report on Sunday, September 7th. National Bankshares cut their price objective on InPlay Oil from C$16.00 to C$15.00 and set an “outperform” rating on the stock in a report on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. Based on data from MarketBeat, InPlay Oil presently has an average rating of “Strong Buy” and a consensus price target of C$12.80.

InPlay Oil Trading Down 1.7%

TSE:IPO traded down C$0.23 during trading hours on Thursday, hitting C$12.95. 60,603 shares of the stock were exchanged, compared to its average volume of 57,918. The company has a market capitalization of C$360.09 million, a P/E ratio of -86.33 and a beta of 0.63. The company has a quick ratio of 0.51, a current ratio of 0.61 and a debt-to-equity ratio of 20.44. The company’s 50 day moving average is C$12.36 and its two-hundred day moving average is C$10.54. InPlay Oil has a twelve month low of C$6.54 and a twelve month high of C$13.73.

Insiders Place Their Bets

In other news, Director Douglas Bartole sold 7,689 shares of the business’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of C$11.38, for a total transaction of C$87,500.82. Following the transaction, the director directly owned 341,810 shares in the company, valued at C$3,889,797.80. The trade was a 2.20% decrease in their position. Also, insider Darren W. Dittmer sold 2,200 shares of InPlay Oil stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of C$12.00, for a total value of C$26,400.00. Following the transaction, the insider owned 172,644 shares of the company’s stock, valued at C$2,071,728. The trade was a 1.26% decrease in their position. In the last quarter, insiders sold 10,389 shares of company stock valued at $120,251. Corporate insiders own 25.31% of the company’s stock.

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.