InPlay Oil (TSE:IPO) Issues Earnings Results

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

InPlay Oil Stock Performance

Shares of IPO stock opened at C$17.25 on Friday. The company’s fifty day simple moving average is C$18.19 and its 200-day simple moving average is C$16.59. InPlay Oil has a 52 week low of C$11.95 and a 52 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 company has a market cap of C$476.96 million, a PE ratio of -38.33 and a beta of 0.56.

InPlay Oil Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 30th will be given a $0.09 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.08 annualized dividend and a dividend yield of 6.3%. InPlay Oil’s dividend payout ratio is presently -240.00%.

Insider Activity at InPlay Oil

In related news, insider Kevin Leonard sold 17,222 shares of the company’s stock in a transaction on 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 completion of the sale, the insider directly owned 41,102 shares of the company’s stock, valued at approximately C$740,247.02. This represents a 29.53% decrease in their position. Also, insider Darren W. Dittmer sold 11,317 shares of the stock in a transaction 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 of the company’s stock, valued at approximately C$3,449,872.58. This represents a 5.49% decrease in their ownership of the stock. In the last 90 days, insiders have sold 51,173 shares of company stock worth $919,362. 25.31% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.