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

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

Imperial Oil Stock Up 0.6 %

NYSEAMERICAN:IMO opened at $69.50 on Friday. The firm has a market cap of $37.24 billion, a price-to-earnings ratio of 10.89 and a beta of 1.47. Imperial Oil has a 52-week low of $44.89 and a 52-week high of $74.58. 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 announced its quarterly earnings results on Friday, April 26th. The energy company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.10. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $11.61 billion. Imperial Oil had a return on equity of 20.76% and a net margin of 9.46%. Analysts forecast that Imperial Oil will post 6.07 earnings per share for the current fiscal year.

Imperial Oil Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a $0.4377 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Monday, June 3rd. Imperial Oil’s dividend payout ratio is currently 27.74%.

Hedge Funds Weigh In On Imperial Oil

A number of institutional investors have recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC increased its position 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 period. AdvisorNet Financial Inc boosted its holdings in Imperial Oil by 52.6% in 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. Headlands Technologies LLC acquired a new position in shares of Imperial Oil during the 1st quarter worth approximately $46,000. Jones Financial Companies Lllp bought a new stake in shares of Imperial Oil in the fourth quarter valued at approximately $44,000. Finally, Assetmark Inc. grew its position in Imperial Oil by 938.5% during the fourth quarter. Assetmark Inc. now owns 810 shares of the energy company’s stock worth $46,000 after buying an additional 732 shares in the last quarter. 20.74% of the stock is currently owned by institutional investors and hedge funds.

About Imperial Oil

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.