TSX:IPO - Post Discussion
Post by
Grandcentral on Feb 23, 2023 5:06pm
~$6.48 price target (+145.5%)
InPlay Oil (TSX:IPO) is a $230.07 million resource-based oil and gas company with a long growth runway. In 3.01 years, the total return of this dividend-paying, small-cap stock is 354%, a compound annual growth rate (CAGR) of 65.43%. It trades at only $2.64 per share (-12.4% year to date), although market analysts covering IPO recommend a buy rating. Their 12-month average price target is $6.48 (+145.5%).
The long-lived, low-decline properties with drilling development and enhanced oil recovery potential are InPlay’s competitive advantages. In the first three quarters of 2022, revenue increased 118.9% to $152.41 million versus the same period in 2021. However, comprehensive income rose only 5.5% year over year to $63.16 million.
On February 1, 2023, investors received some good news. The board of directors approved and declared a monthly cash dividend ($0.015 per common share). Because of the record-setting financial and operational performance in 2022, Inplay starts the year with a solid financial position. Management said it could deliver sustainable shareholder returns through the base dividend and share-buyback initiatives.
https://ca.finance.yahoo.com/news/3-value-stocks-could-richly-153000554.html
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