HFI likes InPlay
Posted: Fri Feb 02, 2024 8:08 pm
https://open.substack.com/pub/hfir/p/idea-inplay-oil?r=nh748&utm_medium=ios&utm_campaign=post
I might move InPlay into our High Yield Income Portfolio. Based on Friday's closing price the dividend yield is 8.45% and it pays monthly dividends.
This year's drilling program is designed to generate ~2.5% YOY production growth and focus on more oil prone areas. Based on my forecast their operating cash flow should easily cover their D&C capex, the dividends and enough to make a few bolt-on acquisitions. FCF is this year's top priority.
InPlay has been one of my best picks.