InPlay Oil (TSE:IPO) Posts Earnings Results

InPlay Oil (TSE:IPO) issued its quarterly earnings results on Thursday. The company reported C($0.08) earnings per share for the quarter, FiscalAI reports. The firm had revenue of C$237.61 million during 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 TSE IPO traded down C$0.34 during midday trading on Thursday, reaching C$17.25. 187,237 shares of the company traded hands, compared to its average volume of 110,848. InPlay Oil has a 52 week low of C$11.95 and a 52 week high of C$20.94. The stock has a 50-day moving average price of C$18.19 and a 200 day moving average price of C$16.57. 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 company has a market cap of C$476.96 million, a price-to-earnings ratio of -38.33 and a beta of 0.56.

InPlay Oil Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 30th will be paid 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 Darren W. Dittmer sold 11,317 shares of the stock in a transaction dated 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 transaction, 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 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 transaction of C$310,168.22. Following the sale, the insider owned 41,102 shares in the company, valued at C$740,247.02. This trade represents a 29.53% decrease in their ownership of the stock. Insiders sold 51,173 shares of company stock worth $919,362 in the last 90 days. Corporate insiders own 25.31% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on IPO. ATB Cormark Capital Markets lifted their price objective on shares of InPlay Oil from C$23.00 to C$25.00 and gave the stock an “outperform” rating in a report on Monday, October 19th. National Bank Financial lowered 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 research note on Wednesday, July 8th. Three analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company presently 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.