InPlay Oil (TSE:IPO) Hits New 12-Month High on Analyst Upgrade

Key Points

• InPlay Oil shares reached a new 52-week high after ATB Cormark raised its price target from C$23 to C$25 and maintained an outperform rating. The stock traded as high as C$20.19, while analysts’ consensus rating remains “Buy” with an average target of C$20.
• Company insiders sold 51,173 shares worth approximately $919,362 over the past 90 days, although insiders still own 25.31% of InPlay Oil.
• InPlay declared a monthly dividend of $0.09 per share, equivalent to an annualized $1.08 payout and a 5.4% yield. The company most recently reported C$0.78 in quarterly EPS and C$248.23 million in revenue.

InPlay Oil Corp. (TSE:IPO - Get Free Report) shares hit a new 52-week high on Tuesday after ATB Cormark Capital Markets raised their price target on the stock from C$23.00 to C$25.00. ATB Cormark Capital Markets currently has an outperform rating on the stock. InPlay Oil traded as high as C$20.19 and last traded at C$19.87, with a volume of 184,055 shares trading hands. The stock had previously closed at C$19.70.

Separately, National Bank Financial lowered 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. Three investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat, InPlay Oil presently has a consensus rating of "Buy" and an average price target of C$20.00.

Insider Transactions at InPlay Oil

In related news, insider Darren W. Dittmer sold 11,317 shares of InPlay Oil stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of C$17.71, for a total value of C$200,424.07. Following the completion of the transaction, the insider directly owned 194,798 shares in the company, valued at approximately C$3,449,872.58. This trade represents a 5.49% 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 stock was sold at an average price of C$18.06, for a total value of C$408,770.04. Following the completion of the transaction, the insider owned 140,832 shares of the company's stock, valued at C$2,543,425.92. This trade represents a 13.85% decrease in their ownership of the stock. In the last 90 days, insiders sold 51,173 shares of company stock valued at $919,362. Insiders own 25.31% of the company's stock.

InPlay Oil Price Performance

The company has a quick ratio of 0.51, a current ratio of 0.99 and a debt-to-equity ratio of 76.05. The company has a 50 day simple moving average of C$17.44 and a 200-day simple moving average of C$16.51. The stock has a market cap of C$549.41 million, a price-to-earnings ratio of -44.16 and a beta of 0.56.

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

InPlay Oil Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 30th will be given a dividend of $0.09 per share. This represents a $1.08 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend is Thursday, October 15th. InPlay Oil's dividend payout ratio is currently -240.00%.

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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