Analysts Set Imperial Oil Ltd (IMO) Price Target at $47.00
Shares of Imperial Oil Ltd (NYSEMKT:IMO) (TSE:IMO) have been given an average rating of “Hold” by the nineteen brokerages that are covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $45.20.
A number of research analysts have commented on the company. Zacks Investment Research raised Imperial Oil from a “strong sell” rating to a “hold” rating in a research report on Monday, June 19th. CIBC lowered Imperial Oil from a “sector outperform” rating to a “sector perform” rating in a research report on Tuesday, May 23rd. BidaskClub raised Imperial Oil from a “hold” rating to a “buy” rating in a research report on Tuesday. AltaCorp Capital lowered Imperial Oil from a “sector perform” rating to an “underperform” rating in a research report on Wednesday, August 23rd. Finally, National Bank Financial assumed coverage on Imperial Oil in a research report on Tuesday, June 27th. They set a “sector perform” rating for the company.
Shares of Imperial Oil (IMO) traded up 0.35% during trading on Tuesday, hitting $31.22. The stock had a trading volume of 121,642 shares. The company has a market capitalization of $26.36 billion, a PE ratio of 12.29 and a beta of 1.14. Imperial Oil has a 52 week low of $27.59 and a 52 week high of $36.85. The firm has a 50-day moving average price of $29.39 and a 200 day moving average price of $29.55.
Imperial Oil (NYSEMKT:IMO) (TSE:IMO) last issued its earnings results on Friday, July 28th. The energy company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.30). The company had revenue of $7.03 billion for the quarter, compared to analysts’ expectations of $8.40 billion. Imperial Oil had a negative net margin of 1.10% and a negative return on equity of 1.23%. The company’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.21) earnings per share. Equities analysts anticipate that Imperial Oil will post $0.98 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 1st will be given a $0.1279 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.51 annualized dividend and a dividend yield of 1.65%. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.12. Imperial Oil’s dividend payout ratio is currently 170.37%.
Large investors have recently made changes to their positions in the company. Shell Asset Management Co. raised its position in shares of Imperial Oil by 14.2% in the 2nd quarter. Shell Asset Management Co. now owns 95,893 shares of the energy company’s stock worth $3,625,000 after acquiring an additional 11,900 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Imperial Oil by 0.4% in the 1st quarter. JPMorgan Chase & Co. now owns 110,053 shares of the energy company’s stock worth $3,355,000 after acquiring an additional 447 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of Imperial Oil in the 2nd quarter worth approximately $2,308,000. Morgan Stanley raised its position in shares of Imperial Oil by 172.2% in the 1st quarter. Morgan Stanley now owns 635,896 shares of the energy company’s stock worth $19,394,000 after acquiring an additional 402,289 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Imperial Oil by 2.9% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 840,044 shares of the energy company’s stock worth $24,443,000 after acquiring an additional 23,926 shares in the last quarter.
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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