InPlay Oil (TSE:IPO) Sets New 1-Year High After Analyst Upgrade

InPlay Oil Corp. (TSE:IPO) reached a new 52-week high during mid-day trading 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. The stock had previously closed at C$19.70.

Separately, National Bank Financial decreased their target price on shares of 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 research analysts have rated the stock with a Buy rating. According to MarketBeat, InPlay Oil has an average rating of “Buy” and a consensus price target of C$20.00.

Insider Activity at InPlay Oil

In other InPlay Oil news, insider Darren W. Dittmer sold 11,317 shares of the stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of C$17.71, for a total value of C$200,424.07. Following the completion of the sale, the insider owned 194,798 shares in the company, valued at C$3,449,872.58. This represents a 5.49% decrease in their position. Also, insider Kevin Yakiwchuk sold 22,634 shares of the stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of C$18.06, for a total transaction of C$408,770.04. Following the completion of the sale, the insider owned 140,832 shares of the company’s stock, valued at approximately C$2,543,425.92. The trade was a 13.85% decrease in their position. Over the last three months, insiders have sold 51,173 shares of company stock valued at $919,362. Corporate 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 stock’s 50 day moving average price is C$17.59 and its two-hundred day moving average price is C$16.54. The firm has a market capitalization of C$551.06 million, a price-to-earnings ratio of -44.29 and a beta of 0.56.

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

InPlay Oil Announces Dividend

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

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.