Imperial Oil (NYSEAMERICAN:IMO) Price Target Cut to $110.00

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) had its target price cut by Scotiabank from $111.00 to $110.00 in a report published on Friday, Benzinga reports. They currently have a sector outperform rating on the energy company’s stock.

Several other equities research analysts also recently weighed in on the company. StockNews.com downgraded Imperial Oil from a buy rating to a hold rating in a research report on Monday, July 1st. Raymond James upgraded Imperial Oil to a hold rating in a report on Tuesday, May 28th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Imperial Oil presently has a consensus rating of Hold and a consensus price target of $91.50.

Imperial Oil Stock Performance

NYSEAMERICAN IMO opened at $70.44 on Friday. The company has a market capitalization of $37.74 billion, a P/E ratio of 11.04 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 has a one year low of $48.26 and a one year high of $74.58.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last issued its earnings results on Friday, April 26th. The energy company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.10. Imperial Oil had a net margin of 9.46% and a return on equity of 20.76%. The business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $11.61 billion. Equities analysts anticipate that Imperial Oil will post 6.25 earnings per share for the current year.

Imperial Oil Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were given a dividend of $0.4377 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend was Monday, June 3rd. Imperial Oil’s payout ratio is 27.59%.

Hedge Funds Weigh In On Imperial Oil

Several institutional investors and hedge funds have recently made changes to their positions in IMO. AdvisorNet Financial Inc grew its stake in Imperial Oil by 52.6% in the fourth quarter. AdvisorNet Financial Inc now owns 522 shares of the energy company’s stock worth $30,000 after purchasing an additional 180 shares in the last quarter. Hexagon Capital Partners LLC lifted its holdings in Imperial Oil by 84.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 493 shares of the energy company’s stock worth $34,000 after buying an additional 225 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Imperial Oil in the 4th quarter worth approximately $44,000. Assetmark Inc. increased its holdings in shares of Imperial Oil by 938.5% in 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 last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Imperial Oil during the 1st quarter valued at approximately $46,000. 20.74% of the stock is currently owned by hedge funds and other 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.