InPlay Oil (TSE:IPO) Hits New 12-Month High – Time to Buy?

InPlay Oil Corp. (TSE:IPO)’s stock price reached a new 52-week high during trading on Tuesday. The company traded as high as C$20.91 and last traded at C$20.91, with a volume of 4,979 shares traded. The stock had previously closed at C$20.63.

Analyst Ratings Changes

Several research firms have recently commented on IPO. ATB Cormark Capital Markets raised their price target on InPlay Oil from C$23.00 to C$25.00 and gave the stock an “outperform” rating in a research report on Monday, October 19th. National Bank Financial dropped their price objective on InPlay Oil from C$27.50 to C$22.50 and set an “outperform” rating for the company in a research note on Wednesday, July 8th. Three analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$20.00.

InPlay Oil Trading Up 0.4%

The company’s 50 day simple moving average is C$17.96 and its 200 day simple moving average is C$16.41. The company has a debt-to-equity ratio of 76.05, a current ratio of 0.99 and a quick ratio of 0.51. The firm has a market cap of C$571.53 million, a price-to-earnings ratio of -45.93 and a beta of 0.56.

InPlay Oil (TSE:IPO) last released its earnings results on Thursday, August 13th. The company reported C$0.78 earnings per share (EPS) for the quarter. The firm 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 expect that InPlay Oil Corp. will post 0.35 earnings per share for the current fiscal year.

InPlay Oil Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 30th will be issued a dividend of $0.09 per share. The ex-dividend date is Thursday, October 15th. This represents a $1.08 annualized dividend and a yield of 5.2%. InPlay Oil’s dividend payout ratio is -240.00%.

Insider Buying and Selling at InPlay Oil

In other news, insider Kevin Yakiwchuk sold 22,634 shares of the business’s stock in a transaction dated 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 transaction, the insider directly 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 ownership of the stock. Also, insider Kevin Leonard sold 17,222 shares of the business’s stock in a transaction dated 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 transaction, 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 ownership of the stock. Insiders have sold 51,173 shares of company stock valued at $919,362 in the last quarter. Corporate insiders own 25.31% of the company’s stock.

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.