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Independent Oil and Gas

AIM:IOG
Snowflake Description

Moderate growth potential and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
IOG
AIM
£15M
Market Cap
  1. Home
  2. GB
  3. Energy
Company description

Independent Oil and Gas plc explores for and develops oil and gas properties in the North Sea, the United Kingdom. The last earnings update was 8 days ago. More info.


Add to Portfolio Compare Print
  • Independent Oil and Gas has significant price volatility in the past 3 months.
IOG Share Price and Events
7 Day Returns
8.6%
AIM:IOG
0.7%
GB Oil and Gas
1%
GB Market
1 Year Returns
-24.1%
AIM:IOG
19%
GB Oil and Gas
1.6%
GB Market
IOG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Independent Oil and Gas (IOG) 8.6% -39.5% -17.6% -24.1% -7.2% -58.8%
GB Oil and Gas 0.7% 5.4% 9.3% 19% 52.6% -2.7%
GB Market 1% 2.3% 8.6% 1.6% 14% 5.9%
1 Year Return vs Industry and Market
  • IOG underperformed the Oil and Gas industry which returned 19% over the past year.
  • IOG underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 1.6% over the past year.
Price Volatility
IOG
Industry
5yr Volatility vs Market

Value

 Is Independent Oil and Gas undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Independent Oil and Gas to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Independent Oil and Gas.

AIM:IOG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 14.4%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for AIM:IOG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6.7%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.95
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.952 (1 + (1- 19%) (195.73%))
1.979
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.98
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (1.979 * 6.65%)
14.39%

Discounted Cash Flow Calculation for AIM:IOG using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Independent Oil and Gas is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

AIM:IOG DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 14.39%)
2019 -42.30 Analyst x3 -36.98
2020 -175.17 Analyst x3 -133.88
2021 -13.20 Analyst x2 -8.82
2022 108.70 Analyst x1 63.49
2023 291.20 Analyst x1 148.70
2024 298.56 Est @ 2.53% 133.29
2025 304.94 Est @ 2.14% 119.01
2026 310.63 Est @ 1.86% 105.98
2027 315.82 Est @ 1.67% 94.20
2028 320.69 Est @ 1.54% 83.62
Present value of next 10 years cash flows £568.63
AIM:IOG DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= £320.69 × (1 + 1.23%) ÷ (14.39% – 1.23%)
£2,466.82
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £2,466.82 ÷ (1 + 14.39%)10
£643.26
AIM:IOG Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £568.63 + £643.26
£1,211.90
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £1,211.90 / 127.48
£9.51
AIM:IOG Discount to Share Price
Calculation Result
Value per share (GBP) From above. £9.51
Current discount Discount to share price of £0.12
= -1 x (£0.12 - £9.51) / £9.51
98.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Independent Oil and Gas is available for.
Intrinsic value
>50%
Share price is £0.12 vs Future cash flow value of £9.51
Current Discount Checks
For Independent Oil and Gas to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Independent Oil and Gas's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Independent Oil and Gas's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Independent Oil and Gas's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Independent Oil and Gas's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
AIM:IOG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in GBP £-0.05
AIM:IOG Share Price ** AIM (2019-04-18) in GBP £0.12
United Kingdom of Great Britain and Northern Ireland Oil and Gas Industry PE Ratio Median Figure of 31 Publicly-Listed Oil and Gas Companies 9.81x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 795 Publicly-Listed Companies 16.28x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Independent Oil and Gas.

AIM:IOG PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= AIM:IOG Share Price ÷ EPS (both in GBP)

= 0.12 ÷ -0.05

-2.62x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Independent Oil and Gas is loss making, we can't compare its value to the GB Oil and Gas industry average.
  • Independent Oil and Gas is loss making, we can't compare the value of its earnings to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Independent Oil and Gas's expected growth come at a high price?
Raw Data
AIM:IOG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -2.62x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
118.9%per year
United Kingdom of Great Britain and Northern Ireland Oil and Gas Industry PEG Ratio Median Figure of 18 Publicly-Listed Oil and Gas Companies 0.48x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 563 Publicly-Listed Companies 1.49x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Independent Oil and Gas, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Independent Oil and Gas's assets?
Raw Data
AIM:IOG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in GBP £-0.05
AIM:IOG Share Price * AIM (2019-04-18) in GBP £0.12
United Kingdom of Great Britain and Northern Ireland Oil and Gas Industry PB Ratio Median Figure of 102 Publicly-Listed Oil and Gas Companies 0.85x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,365 Publicly-Listed Companies 1.52x
AIM:IOG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= AIM:IOG Share Price ÷ Book Value per Share (both in GBP)

= 0.12 ÷ -0.05

-2.62x

* Primary Listing of Independent Oil and Gas.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Independent Oil and Gas has negative assets, we can't compare the value of its assets to the GB Oil and Gas industry average.
X
Value checks
We assess Independent Oil and Gas's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Independent Oil and Gas has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Independent Oil and Gas expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
118.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Independent Oil and Gas expected to grow at an attractive rate?
  • Independent Oil and Gas's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Independent Oil and Gas's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
  • Unable to compare Independent Oil and Gas's revenue growth to the United Kingdom of Great Britain and Northern Ireland market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
AIM:IOG Future Growth Rates Data Sources
Data Point Source Value (per year)
AIM:IOG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 118.9%
United Kingdom of Great Britain and Northern Ireland Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 14.4%
United Kingdom of Great Britain and Northern Ireland Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 3.1%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 11.1%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
AIM:IOG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
AIM:IOG Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 273 246 170 2
2020-12-31 0 4 -16 2
2019-12-31 0 -4 -11 2
AIM:IOG Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2018-12-31 -3 -6
2018-09-30 -3 -5
2018-06-30 -2 -4
2018-03-31 -2 -3
2017-12-31 -1 -3
2017-09-30 -1 -12
2017-06-30 -1 -22
2017-03-31 -1 -22
2016-12-31 -1 -21
2016-09-30 -1 -8
2016-06-30 -1 4
2016-03-31 -1 5

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Independent Oil and Gas's earnings are expected to grow significantly at over 20% yearly.
  • Unable to determine if Independent Oil and Gas is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
AIM:IOG Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Independent Oil and Gas Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:IOG Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.50 0.55 0.46 2.00
2020-12-31 -0.05 -0.02 -0.08 2.00
2019-12-31 -0.04 -0.04 -0.04 1.00
AIM:IOG Past Financials Data
Date (Data in GBP Millions) EPS *
2018-12-31 -0.05
2018-09-30 -0.04
2018-06-30 -0.03
2018-03-31 -0.03
2017-12-31 -0.03
2017-09-30 -0.12
2017-06-30 -0.21
2017-03-31 -0.22
2016-12-31 -0.23
2016-09-30 -0.10
2016-06-30 0.06
2016-03-31 0.06

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Independent Oil and Gas will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Independent Oil and Gas's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Independent Oil and Gas has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Independent Oil and Gas performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Independent Oil and Gas's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Independent Oil and Gas does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Independent Oil and Gas's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Independent Oil and Gas's 1-year growth to the GB Oil and Gas industry average as it is not currently profitable.
Earnings and Revenue History
Independent Oil and Gas's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Independent Oil and Gas Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:IOG Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 -5.64 0.97
2018-09-30 -4.77 0.92
2018-06-30 -3.89 0.87
2018-03-31 -3.32 0.79
2017-12-31 -2.75 0.70
2017-09-30 -12.27 0.34
2017-06-30 -21.79 -0.02
2017-03-31 -21.61 0.13
2016-12-31 -21.44 0.28
2016-09-30 -8.49 0.67
2016-06-30 4.46 1.07
2016-03-31 4.89 0.96
2015-12-31 5.32 0.84
2015-09-30 -2.78 1.27
2015-06-30 -10.88 1.69
2015-03-31 -11.51 2.18
2014-12-31 -12.15 2.68
2014-09-30 -7.20 2.31
2014-06-30 -2.26 1.94
2014-03-31 -1.65 1.29
2013-12-31 -1.03 0.65
2012-12-31 -0.45 0.39

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Independent Oil and Gas has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) due to its liabilities exceeding its assets.
  • It is difficult to establish if Independent Oil and Gas has efficiently used its assets last year compared to the GB Oil and Gas industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Independent Oil and Gas improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Independent Oil and Gas's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Independent Oil and Gas has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Independent Oil and Gas's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Independent Oil and Gas's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Independent Oil and Gas's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Independent Oil and Gas's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Independent Oil and Gas's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Independent Oil and Gas has negative shareholder equity (liabilities exceed assets) therefore debt is not covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Independent Oil and Gas Company Filings, last reported 3 months ago.

AIM:IOG Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 -5.78 29.82 0.70
2018-09-30 -5.78 29.82 0.70
2018-06-30 -7.14 25.07 4.61
2018-03-31 -7.14 25.07 4.61
2017-12-31 -4.77 12.39 0.15
2017-09-30 -4.77 12.39 0.15
2017-06-30 -5.54 10.91 0.16
2017-03-31 -5.54 10.91 0.16
2016-12-31 -4.30 8.81 0.25
2016-09-30 -4.30 8.81 0.25
2016-06-30 14.19 2.11 0.11
2016-03-31 14.19 2.11 0.11
2015-12-31 13.48 1.46 0.02
2015-09-30 13.48 1.46 0.02
2015-06-30 6.13 0.36 0.03
2015-03-31 6.13 0.36 0.03
2014-12-31 5.98 0.46 0.40
2014-09-30 5.98 0.46 0.40
2014-06-30 15.53 0.58 0.32
2014-03-31 15.53 0.58 0.32
2013-12-31 14.94 0.00 1.12
2012-12-31 13.05 0.40 0.02
  • Independent Oil and Gas has negative shareholder equity (liabilities exceed assets), this is a more serious situation compared with a high debt level.
  • Irrelevant to check if Independent Oil and Gas's debt level has increased considering it has negative shareholder equity.
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Independent Oil and Gas has less than a year of cash runway based on current free cash flow.
  • Independent Oil and Gas has less than a year of cash runway if free cash flow continues to grow at historical rates of 56.9% each year.
X
Financial health checks
We assess Independent Oil and Gas's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Independent Oil and Gas has a total score of 0/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Independent Oil and Gas's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Independent Oil and Gas dividends. Estimated to be 0% next year.
If you bought £2,000 of Independent Oil and Gas shares you are expected to receive £0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Independent Oil and Gas's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Independent Oil and Gas's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
AIM:IOG Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 4.7%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 705 Stocks 4.2%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

AIM:IOG Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31 0.00 1.00
2019-12-31 0.00 1.00

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Independent Oil and Gas has not reported any payouts.
  • Unable to verify if Independent Oil and Gas's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Independent Oil and Gas's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Independent Oil and Gas has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Independent Oil and Gas's dividends in 3 years as they are not expected to pay a notable one for United Kingdom of Great Britain and Northern Ireland.
X
Income/ dividend checks
We assess Independent Oil and Gas's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Independent Oil and Gas afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Independent Oil and Gas has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Independent Oil and Gas's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Andy Hockey
COMPENSATION £149,290
AGE 58
TENURE AS CEO 1.2 years
CEO Bio

Mr. Andrew Raymond Hockey, also known as Andy, has been Chief Executive Officer of Independent Oil and Gas plc since February 2018. Mr. Hockey served as Deputy Chief Executive Officer of Independent Oil and Gas plc since March 20, 2017 until February 2018. Mr. Hockey is the Founder of Decom Energy Limited. He served as the General Manager of Business Development at Fairfield Energy Limited. He served as General Manager of CNS & SNS, General Manager of Existing Assets and General Manager of Joint Ventures & New Business at Fairfield Energy and was responsible for its Crawford, Maureen and Clipper South assets. He joined Fairfield from Eni in Milan where, he served on the North Caspian project from 2002 to December 2005 and as Development Project Manager for the Kalamkas More Field until 2005. He worked in the energy industry for more than 35 years, initially as a Petroleum Geologist and then as an Asset Manager. He served as Venture Manager of Commercial Group for Eni in London. Before joining Eni in 2001, he served as an Asset Manager of North Africa for Lasmo plc with responsibility for an asset portfolio in Algeria, Tunisia and Morocco; ranging from frontier exploration through to established production. Prior to joining Lasmo, he served as an Exploration Manager of Algeria for Monument Oil and Gas and North Africa/Greece Project Leader for Triton in London. He was an Exploration Geologist for Fina in the North Sea and internationally. At Fina, he spent over 15 years in technical and managerial roles, including 7 years in the UK North Sea and overseas postings in Singapore, Ho Chi Minh City, Melbourne and Brussels, where he worked on the Vietnamese offshore, the Gippsland and Perth Basins in Australia and basins across North Africa. He served as the Non Executive Chairman of Sound Energy plc (Also known as Sound Oil Plc) from October 2012 to June 25, 2014. He has been a Director of Independent Oil and Gas plc since March 20, 2017. He serves as a Director of Fairfield Fagus Ltd., Fairfield Acer Limited, Fairfield Betula Limited, Fairfield Cedrus Ltd and Fairfield Fagus Limited. He serves as a Non-Executive Director of Fairfield Energy. He served as a Non Executive Director of Sound Oil Plc from May 9, 2011 to September 28, 2015. Mr. Hockey holds both a BA in Geology from Worcester College, Oxford University in 1981 and an M Sc in Petroleum Geology from Imperial College, London in 1984.

CEO Compensation
  • Insufficient data for Andy to compare compensation growth.
  • Andy's remuneration is lower than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the Independent Oil and Gas management team in years:

2.1
Average Tenure
58
Average Age
  • The tenure for the Independent Oil and Gas management team is about average.
Management Team

Andy Hockey

TITLE
CEO & Director
COMPENSATION
£149K
AGE
58
TENURE
1.2 yrs

Peter Young

TITLE
Head of Business Origination
COMPENSATION
£38K
AGE
46
TENURE
2.1 yrs

James Chance

TITLE
Chief Financial Officer
TENURE
1.6 yrs

Mark Hughes

TITLE
COO & Director
AGE
60
TENURE
1 yrs

Rupert Newall

TITLE
Head of Corporate Finance

Doug Fenwick

TITLE
Technical Director
TENURE
2.6 yrs

Colin Jones

TITLE
Chief Petroleum Engineer
TENURE
2.1 yrs

Ben Harber

TITLE
Company Secretary

Gavin Milne

TITLE
Group Financial Controller
TENURE
2.1 yrs
Board of Directors Tenure

Average tenure and age of the Independent Oil and Gas board of directors in years:

1.5
Average Tenure
58
Average Age
  • The average tenure for the Independent Oil and Gas board of directors is less than 3 years, this suggests a new board.
Board of Directors

Fiona MacAulay

TITLE
Independent Non-Executive Chair
AGE
54
TENURE
0.3 yrs

Andy Hockey

TITLE
CEO & Director
COMPENSATION
£149K
AGE
58
TENURE
2.1 yrs

Mark Hughes

TITLE
COO & Director
AGE
60
TENURE
1 yrs

Esa Ikaheimonen

TITLE
Senior Independent Non-Executive Director
AGE
54
TENURE
0.1 yrs

Martin Ruscoe

TITLE
Non-Executive Director
COMPENSATION
£35K
AGE
75
TENURE
3.2 yrs

Charles Hendry

TITLE
Non-Executive Director
COMPENSATION
£19K
TENURE
2.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
06. Mar 19 Buy finnCap Ltd, Asset Management Arm Company 05. Mar 19 05. Mar 19 437,823 £0.18 £80,627
05. Jun 18 Buy Mark Hughes Individual 05. Jun 18 05. Jun 18 178,000 £0.22 £39,747
X
Management checks
We assess Independent Oil and Gas's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Independent Oil and Gas has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Before You Buy Independent Oil and Gas plc (LON:IOG), Consider Its Volatility

Volatility is considered to be a measure of risk in modern finance theory. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … Any stock with a beta of greater than one is considered more volatile than the market, while those with a beta below one are either less volatile or poorly correlated with the market.

Simply Wall St -

What You Must Know About Independent Oil and Gas plc's (LON:IOG) Market Risks

If you are looking to invest in Independent Oil and Gas plc’s (LON:IOG), or currently own the stock, then you need to understand its beta in order to understand how it can affect the risk of your portfolio. … There are two types of risks that affect the market value of a listed company such as IOG. … The second type is market risk, one that you cannot diversify away, since it arises from macroeconomic factors which directly affects all the stocks in the market.

Simply Wall St -

Why Independent Oil and Gas plc's (LON:IOG) Ownership Structure Is Important

A company's ownership structure is often linked to its share performance in both the long- and short-term. … The effect of an active institutional investor with a similar ownership as a passive pension-fund can be vastly different on a company's corporate governance and accountability to shareholders. … As a result, potential investors should further explore the company's business relations with these companies and find out if they can affect shareholder returns in the long-term.Next Steps: IOG's considerably high level of institutional ownership calls for further analysis into its margin of safety.

Simply Wall St -

What Does Independent Oil and Gas plc's (LON:IOG) Share Price Indicate?

Independent Oil and Gas plc (AIM:IOG), an energy company based in United Kingdom, saw significant share price volatility over the past couple of months on the AIM, rising to the highs of £0.19 and falling to the lows of £0.15. … Let’s take a look at Independent Oil and Gas’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change. … This is because Independent Oil and Gas’s beta (a measure of share price volatility) is high, meaning its price movements will be exaggerated relative to the rest of the market.

Simply Wall St -

Independent Oil and Gas plc (LON:IOG): What Does It Mean For Your Portfolio?

Independent Oil and Gas has a beta of 1.78, which means that the percentage change in its stock value will be higher than the entire market in times of booms and busts. … A high level of beta means investors face higher risk associated with potential gains and losses driven by market movements. … Therefore, this is a type of risk which is associated with higher beta.

Simply Wall St -

What Does Independent Oil and Gas plc's (LON:IOG) Ownership Structure Look Like?

Insider Ownership I find insiders are another important group of stakeholders, who are directly involved in making key decisions related to the use of capital. … With 5.98% ownership, IOG insiders is an important ownership type. … This size of ownership gives retail investors collective power in deciding on major policy decisions such as executive compensation, appointment of directors and acquisitions of businesses.

Simply Wall St -

Is Independent Oil and Gas plc's (LON:IOG) CEO Paid At A Competitive Rate?

Earnings is a powerful indication of IOG's ability to invest shareholders' funds and generate returns. … Usually I'd use market cap and profit as factors determining performance, however, IOG's negative earnings reduces the effectiveness of this method. … Whether the company is fundamentally strong depends on IOG's financial health and its future outlook.

Simply Wall St -

What’s Installed For Independent Oil and Gas plc (AIM:IOG)?

However, energy-sector analysts are forecasting for the entire industry, negative growth in the upcoming year , and a whopping growth of 41.87% over the next couple of years. … AIM:IOG Past Future Earnings Nov 22nd 17 The oil price collapse drove a negative 40% growth in the energy sector in the past five years. … Only now has the sector begun to emerge from its turmoil, and over the past year, the industry turnaround led to growth of over 50%, beating the UK market growth of 11.30%.

Simply Wall St -

Company Info

Description

Independent Oil and Gas plc explores for and develops oil and gas properties in the North Sea, the United Kingdom. It primarily focuses on the development of hydrocarbon reserves, as well as the acquisition, trading, and monetization of its license interests. The company 100% working interests in the Blythe gas field in the southern North Sea; the Skipper license located to the south east of the Shetlands in the northern North Sea; and the Nailsworth, Elland, and Southwark fields in the southern North Sea. It also holds 100% working interests in the Harvey and Truman promote license; and the Elgood, Tetley, and Rebellion promote license located in the North Sea. Independent Oil and Gas plc was incorporated in 2010 and is headquartered in London, the United Kingdom.

Details
Name: Independent Oil and Gas plc
IOG
Exchange: AIM
Founded: 2010
£15,233,980
127,481,012
Website: http://www.independentoilandgas.com
Address: Independent Oil and Gas plc
10 Arthur Street,
London,
Greater London, EC4R 9AY,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AIM IOG Ordinary Shares London Stock Exchange AIM Market GB GBP 30. Sep 2013
DB IO7 Ordinary Shares Deutsche Boerse AG DE EUR 30. Sep 2013
Number of employees
Current staff
Staff numbers
18
Independent Oil and Gas employees.
Industry
Integrated Oil and Gas
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/18 22:00
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/12
Last earnings filing: 2019/04/10
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.