Imperial Oil Limited (NYSEAMERICAN:IMO) Stock Has Average Target Price of $116.00

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) has been given a consensus recommendation of “Reduce” by the ten brokerages that are currently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $116.00.

Several research analysts have issued reports on the company. Canadian Imperial Bank of Commerce reaffirmed an “underperform” rating on shares of Imperial Oil in a report on Friday, October 9th. Desjardins upgraded Imperial Oil to a “hold” rating in a research report on Thursday, July 16th. TD Securities reissued a “sell” rating on shares of Imperial Oil in a research note on Wednesday, August 5th. Raymond James Financial reaffirmed an “underperform” rating on shares of Imperial Oil in a research note on Wednesday, September 16th. Finally, Zacks Research upgraded Imperial Oil from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 6th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Beaumont Financial Advisors LLC acquired a new stake in Imperial Oil during the 3rd quarter worth $520,000. Sawyer & Company Inc bought a new stake in shares of Imperial Oil during the 3rd quarter valued at $27,000. Lazari Capital Management Inc. bought a new stake in shares of Imperial Oil during the 3rd quarter valued at $205,000. TD Waterhouse Canada Inc. lifted its stake in shares of Imperial Oil by 3.3% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 734,540 shares of the energy company’s stock valued at $90,977,000 after purchasing an additional 23,508 shares during the period. Finally, Stronghold Wealth Management L.L.C. acquired a new position in shares of Imperial Oil in the 3rd quarter valued at $211,000. Institutional investors own 20.74% of the company’s stock.

Imperial Oil Stock Performance

IMO opened at $134.80 on Friday. Imperial Oil has a 1-year low of $83.27 and a 1-year high of $139.44. The stock has a market capitalization of $63.63 billion, a PE ratio of 21.87 and a beta of 0.57. The company has a current ratio of 1.38, a quick ratio of 1.19 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average price of $129.69 and a two-hundred day moving average price of $126.35.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last announced its earnings results on Friday, July 31st. The energy company reported $4.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.99 by $1.53. The company had revenue of $11.31 billion for the quarter, compared to analyst estimates of $10.92 billion. Imperial Oil had a net margin of 8.03% and a return on equity of 22.28%. Imperial Oil’s quarterly revenue was up 43.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.86 earnings per share. As a group, equities analysts anticipate that Imperial Oil will post 11.08 earnings per share for the current fiscal year.

Imperial Oil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, September 4th were issued a dividend of C$0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Friday, September 4th. Imperial Oil’s payout ratio is currently 38.09%.

About Imperial Oil

Imperial Oil Limited is an integrated Canadian energy company headquartered in Calgary, Alberta. Founded in 1880, the company explores for, produces, transports, refines and markets crude oil and natural gas, serving customers primarily in Canada. Imperial is one of the country’s largest petroleum companies and has a long-standing relationship with Exxon Mobil Corporation, which is its majority shareholder.

Imperial’s upstream operations include oil sands production at the Kearl and Cold Lake projects in Alberta, as well as a significant interest in the Syncrude oil sands mining and upgrading operation.