InPlay Oil (TSE:IPO) Insider Sells C$310,168.22 in Stock

Key Points

• Insider Kevin Leonard sold 17,222 InPlay Oil shares at an average C$18.01, generating C$310,168.22 and reducing his direct ownership by 29.53% to 41,102 shares.
• InPlay Oil shares traded at C$18.17, near their 12-month high of C$18.96, while the company reported C$0.78 quarterly EPS and C$248.23 million in revenue.
• The company announced a monthly dividend of $0.09 per share, representing a 5.9% yield; analysts maintain an overall “Buy” rating, though National Bank Financial lowered its price target to C$22.50.

InPlay Oil Corp. (TSE:IPO - Get Free Report) insider Kevin Leonard sold 17,222 shares of the firm's stock in a transaction on 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 completion of the sale, the insider directly owned 41,102 shares of the company's stock, valued at C$740,247.02. This represents a 29.53% decrease in their ownership of the stock.

InPlay Oil Stock Performance

TSE IPO traded up C$0.17 during trading on Friday, hitting C$18.17. 77,409 shares of the company's stock traded hands, compared to its average volume of 113,399. The company has a debt-to-equity ratio of 76.05, a quick ratio of 0.51 and a current ratio of 0.99. The stock has a market capitalization of C$502.40 million, a price-to-earnings ratio of -40.38 and a beta of 0.41. InPlay Oil Corp. has a 12-month low of C$11.00 and a 12-month high of C$18.96. The business has a 50 day moving average of C$16.06 and a 200-day moving average of C$16.39.

InPlay Oil (TSE:IPO - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported C$0.78 earnings per share (EPS) for the quarter. The company had revenue of C$248.23 million for the quarter. InPlay Oil had a negative net margin of 4.07% and a negative return on equity of 3.81%. As a group, equities research analysts anticipate 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 Tuesday, September 29th. Shareholders of record on Tuesday, September 29th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 5.9%. InPlay Oil's payout ratio is presently -240.00%.

Analyst Upgrades and Downgrades

Separately, National Bank Financial cut their price target on InPlay Oil from C$27.50 to C$22.50 and set an "outperform" rating for the company in a report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of C$18.33.

About InPlay Oil

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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