BidaskClub downgraded shares of Imperial Oil Ltd (NYSEMKT:IMO) (TSE:IMO) from a buy rating to a hold rating in a research note issued to investors on Saturday.
IMO has been the topic of a number of other reports. J P Morgan Chase & Co cut shares of Imperial Oil from a neutral rating to an underweight rating and set a $38.00 price target on the stock. in a research report on Thursday, September 14th. Citigroup Inc. reiterated a neutral rating on shares of Imperial Oil in a research report on Wednesday, August 2nd. Zacks Investment Research cut shares of Imperial Oil from a hold rating to a sell rating in a research report on Tuesday, July 18th. Raymond James Financial, Inc. cut shares of Imperial Oil from an outperform rating to a market perform rating in a research report on Wednesday, July 5th. Finally, Barclays PLC raised Imperial Oil from an equal weight rating to an overweight rating in a research note on Tuesday, July 11th. Five analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $46.20.
Shares of Imperial Oil (IMO) opened at 31.71 on Friday. Imperial Oil has a 52-week low of $27.59 and a 52-week high of $36.85. The firm has a market capitalization of $26.77 billion, a P/E ratio of 12.12 and a beta of 1.14. The company’s 50-day moving average is $30.83 and its 200 day moving average is $29.64.
Imperial Oil (NYSEMKT:IMO) (TSE:IMO) last issued its quarterly earnings results on Friday, July 28th. The energy company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.30). Imperial Oil had a negative net margin of 1.10% and a negative return on equity of 1.23%. The business had revenue of $7.03 billion for the quarter, compared to the consensus estimate of $8.40 billion. During the same quarter in the previous year, the business earned ($0.21) earnings per share. The firm’s revenue was up 12.6% on a year-over-year basis. Analysts expect that Imperial Oil will post $0.93 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Sunday, October 1st. Stockholders of record on Friday, September 1st were paid a dividend of $0.1279 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Wednesday, August 30th. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.12. Imperial Oil’s dividend payout ratio is 170.37%.
A number of hedge funds have recently made changes to their positions in IMO. Wells Fargo & Company MN lifted its stake in Imperial Oil by 65.2% in the first quarter. Wells Fargo & Company MN now owns 79,719 shares of the energy company’s stock worth $2,432,000 after acquiring an additional 31,474 shares during the period. First Trust Advisors LP lifted its stake in Imperial Oil by 8.5% in the first quarter. First Trust Advisors LP now owns 16,310 shares of the energy company’s stock worth $497,000 after acquiring an additional 1,273 shares during the period. Bank of New York Mellon Corp lifted its stake in Imperial Oil by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 533,127 shares of the energy company’s stock worth $16,260,000 after acquiring an additional 10,132 shares during the period. Comerica Bank lifted its stake in Imperial Oil by 1.3% in the first quarter. Comerica Bank now owns 13,983 shares of the energy company’s stock worth $411,000 after acquiring an additional 181 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its stake in Imperial Oil by 4.2% in the first quarter. Parametric Portfolio Associates LLC now owns 106,485 shares of the energy company’s stock worth $3,248,000 after acquiring an additional 4,252 shares during the period.
Imperial Oil Company Profile
Imperial Oil Limited is an integrated oil company. The Company is engaged in all the phases of the petroleum industry in Canada, including exploration for, and production and sale of, crude oil and natural gas. Its operations are conducted in three segments: Upstream, Downstream and Chemical. The Upstream operations include the exploration for, and production of, crude oil, natural gas, synthetic oil and bitumen.
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