InPlay Oil (TSE:IPO) Hits New 1-Year High – Time to Buy?

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IPO. National Bank Financial lowered 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 report on Wednesday, July 8th. ATB Cormark Capital Markets increased their target price 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. Three research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, InPlay Oil presently has a consensus rating of “Buy” and a consensus price target of C$20.00.

InPlay Oil Stock Down 0.5%

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$567.38 million, a price-to-earnings ratio of -45.60 and a beta of 0.56. The firm has a 50 day moving average price of C$17.71 and a two-hundred day moving average price of C$16.29.

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

InPlay Oil Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 30th will be paid a dividend of $0.09 per share. This represents a $1.08 annualized dividend and a yield of 5.3%. The ex-dividend date is Thursday, October 15th. InPlay Oil’s payout ratio is currently -240.00%.

Insiders Place Their Bets

In other news, insider Kevin Leonard sold 17,222 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of C$18.01, for a total value of C$310,168.22. Following the completion of the sale, the insider owned 41,102 shares of the company’s stock, valued at C$740,247.02. This represents a 29.53% decrease in their ownership of the stock. Also, insider Darren W. Dittmer sold 11,317 shares of the firm’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of C$17.71, for a total transaction of C$200,424.07. Following the completion of the transaction, the insider directly owned 194,798 shares in the company, valued at approximately C$3,449,872.58. This represents a 5.49% decrease in their position. Insiders sold a total of 51,173 shares of company stock worth $919,362 over the last ninety days. 25.31% of the stock is owned by company insiders.

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.