Imperial Oil (NYSEAMERICAN:IMO) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) from a hold rating to a buy rating in a research note published on Sunday.

Imperial Oil Price Performance

NYSEAMERICAN IMO traded up $1.11 during trading hours on Friday, hitting $69.16. The company’s stock had a trading volume of 203,095 shares, compared to its average volume of 411,705. Imperial Oil has a 12 month low of $44.89 and a 12 month high of $74.58. The company has a market capitalization of $37.06 billion, a price-to-earnings ratio of 10.67 and a beta of 1.47. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.04 and a current ratio of 1.34.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last released its quarterly earnings data on Friday, April 26th. The energy company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.55 by $0.10. Imperial Oil had a return on equity of 20.76% and a net margin of 9.46%. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $11.61 billion. On average, sell-side analysts forecast that Imperial Oil will post 6.07 EPS for the current year.

Imperial Oil Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.4377 per share. The ex-dividend date is Monday, June 3rd. This represents a $1.75 dividend on an annualized basis and a dividend yield of 2.53%. Imperial Oil’s dividend payout ratio is currently 27.74%.

Institutional Investors Weigh In On Imperial Oil

A number of large investors have recently made changes to their positions in IMO. AdvisorNet Financial Inc grew its stake in shares of Imperial Oil by 52.6% during the 4th quarter. AdvisorNet Financial Inc now owns 522 shares of the energy company’s stock valued at $30,000 after purchasing an additional 180 shares during the period. Hexagon Capital Partners LLC grew its stake in shares of Imperial Oil by 84.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 493 shares of the energy company’s stock valued at $34,000 after acquiring an additional 225 shares during the period. Jones Financial Companies Lllp bought a new position in shares of Imperial Oil during the 4th quarter valued at approximately $44,000. Assetmark Inc. grew its stake in shares of Imperial Oil by 938.5% during the 4th quarter. Assetmark Inc. now owns 810 shares of the energy company’s stock valued at $46,000 after acquiring an additional 732 shares during the period. Finally, Allworth Financial LP grew its stake in shares of Imperial Oil by 176.6% during the 3rd quarter. Allworth Financial LP now owns 888 shares of the energy company’s stock valued at $55,000 after acquiring an additional 567 shares during the period. 20.74% of the stock is currently owned by institutional investors.

Imperial Oil Company Profile

Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment transports and refines crude oil, blends refined products, and distributes and markets of refined products.