Imperial Oil Ltd (NYSEMKT:IMO) Receives Average Rating of “Hold” from Brokerages

Imperial Oil Ltd (NYSEMKT:IMO) (TSE:IMO) has been assigned an average rating of “Hold” from the nineteen analysts that are presently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $44.00.

IMO has been the topic of a number of recent analyst reports. ValuEngine raised shares of Imperial Oil from a “sell” rating to a “hold” rating in a research note on Thursday, May 11th. Zacks Investment Research raised shares of Imperial Oil from a “hold” rating to a “strong-buy” rating and set a $33.00 target price on the stock in a research note on Tuesday, May 16th. CIBC lowered shares of Imperial Oil from a “sector outperform” rating to a “sector perform” rating in a report on Tuesday, May 23rd. BidaskClub upgraded shares of Imperial Oil from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Finally, National Bank Financial began coverage on shares of Imperial Oil in a report on Tuesday, June 27th. They set a “sector perform” rating on the stock.

Shares of Imperial Oil (NYSEMKT:IMO) traded up 0.77% on Monday, reaching $28.91. The company had a trading volume of 29,030 shares. Imperial Oil has a 12 month low of $27.59 and a 12 month high of $36.85. The company has a market capitalization of $24.41 billion, a price-to-earnings ratio of 11.40 and a beta of 1.14. The stock has a 50 day moving average price of $29.13 and a 200-day moving average price of $30.09.

Imperial Oil (NYSEMKT:IMO) (TSE:IMO) last released its earnings results on Friday, July 28th. The energy company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.30. The firm had revenue of $7.03 billion for the quarter, compared to the consensus estimate of $8.40 billion. Imperial Oil had a return on equity of 5.31% and a net margin of 4.76%. Imperial Oil’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.21) EPS. Analysts forecast that Imperial Oil will post $1.12 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 1st will be given a dividend of $0.1279 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.51 annualized dividend and a yield of 1.78%. This is a boost from Imperial Oil’s previous quarterly dividend of $0.12. Imperial Oil’s dividend payout ratio is presently 170.37%.

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A number of large investors have recently made changes to their positions in the stock. Artisan Partners Limited Partnership boosted its stake in Imperial Oil by 24.9% in the second quarter. Artisan Partners Limited Partnership now owns 21,292,920 shares of the energy company’s stock valued at $620,660,000 after buying an additional 4,243,469 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Imperial Oil by 0.5% in the second quarter. PNC Financial Services Group Inc. now owns 33,488 shares of the energy company’s stock worth $977,000 after buying an additional 152 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Imperial Oil by 12.3% in the second quarter. Ameriprise Financial Inc. now owns 8,222 shares of the energy company’s stock worth $241,000 after buying an additional 900 shares during the period. Fiera Capital Corp boosted its position in shares of Imperial Oil by 7.1% in the second quarter. Fiera Capital Corp now owns 902,772 shares of the energy company’s stock worth $26,268,000 after buying an additional 59,692 shares during the period. Finally, Alliancebernstein L.P. boosted its position in shares of Imperial Oil by 18.5% in the second quarter. Alliancebernstein L.P. now owns 54,868 shares of the energy company’s stock worth $1,601,000 after buying an additional 8,559 shares during the period.

About Imperial Oil

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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