InPlay Oil (TSE:IPO) Issues Quarterly Earnings Results

InPlay Oil (TSE:IPO) released its earnings results on Thursday. The company reported C($0.08) earnings per share for the quarter, FiscalAI reports. InPlay Oil had a negative net margin of 4.07% and a negative return on equity of 3.81%. The business had revenue of C$237.61 million for the quarter.

InPlay Oil Stock Performance

IPO traded up C$0.31 during trading hours on Friday, hitting C$17.56. The company’s stock had a trading volume of 114,173 shares, compared to its average volume of 110,863. InPlay Oil has a fifty-two week low of C$11.95 and a fifty-two week high of C$20.94. The company has a current ratio of 0.99, a quick ratio of 0.51 and a debt-to-equity ratio of 76.05. The firm has a market capitalization of C$485.53 million, a PE ratio of -39.02 and a beta of 0.56. The company has a 50-day simple moving average of C$18.20 and a 200 day simple moving average of C$16.62.

InPlay Oil Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Monday, November 30th will be issued a $0.09 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date of this dividend is Monday, November 16th. InPlay Oil’s dividend payout ratio is -240.00%.

Analysts Set New Price Targets

Separately, ATB Cormark Capital Markets boosted their price objective on shares of InPlay Oil from C$23.00 to C$25.00 and gave the company an “outperform” rating in a research report on Monday, October 19th. Three equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$20.00.

Insiders Place Their Bets

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

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.