InPlay Oil (TSE:IPO) Stock Gets Price Target Bump from ATB Cormark Capital Markets

Key Points

• ATB Cormark raised InPlay Oil’s price target to C$25.00 from C$23.00 while maintaining an “outperform” rating, implying 24.63% upside from the reported C$20.06 share price.
• Analyst sentiment remains positive overall: three analysts rate the stock a Buy, with a consensus price target of C$20.00, although National Bank Financial recently lowered its target to C$22.50.
• InPlay Oil reported C$0.78 quarterly EPS and C$248.23 million in revenue, while insiders sold 51,173 shares worth approximately C$919,362 during the quarter.

InPlay Oil (TSE:IPO - Get Free Report) had its price target increased by investment analysts at ATB Cormark Capital Markets from C$23.00 to C$25.00 in a research report issued to clients and investors on Monday, BayStreet reports. The brokerage presently has an "outperform" rating on the stock. ATB Cormark Capital Markets' price target would suggest a potential upside of 24.63% from the company's current price.

Separately, National Bank Financial decreased their price target on shares of InPlay Oil from C$27.50 to C$22.50 and set an "outperform" rating on the stock in a research report on Wednesday, July 8th. Three analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of C$20.00.

InPlay Oil Stock Performance

InPlay Oil stock traded up C$0.36 during mid-day trading on Monday, reaching C$20.06. 128,819 shares of the stock traded hands, compared to its average volume of 110,403. InPlay Oil has a 12-month low of C$11.40 and a 12-month high of C$20.19. The business's 50-day moving average is C$17.36 and its 200-day moving average is C$16.50. The company has a debt-to-equity ratio of 76.05, a current ratio of 0.99 and a quick ratio of 0.51. The stock has a market capitalization of C$554.66 million, a PE ratio of -44.58 and a beta of 0.56.

InPlay Oil (TSE:IPO - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported C$0.78 earnings per share (EPS) for the quarter. InPlay Oil had a negative return on equity of 3.81% and a negative net margin of 4.07%. The business had revenue of C$248.23 million during the quarter. As a group, sell-side analysts predict that InPlay Oil will post 0.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Kevin Leonard sold 17,222 shares of the firm's stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of C$18.01, for a total value of C$310,168.22. Following the transaction, the insider owned 41,102 shares of the company's stock, valued at C$740,247.02. This trade represents a 29.53% decrease in their ownership of the stock. Also, insider Kevin Yakiwchuk sold 22,634 shares of InPlay Oil stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of C$18.06, for a total value of C$408,770.04. Following the transaction, the insider directly owned 140,832 shares in the company, valued at approximately C$2,543,425.92. The trade was a 13.85% decrease in their ownership of the stock. Insiders sold a total of 51,173 shares of company stock worth $919,362 over the last quarter. 25.31% of the stock is currently owned by corporate insiders.

InPlay Oil Company Profile

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.

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