Imperial Oil Ltd (IMO) Cut to Strong Sell at BidaskClub
BidaskClub downgraded shares of Imperial Oil Ltd (NYSEMKT:IMO) (TSE:IMO) from a sell rating to a strong sell rating in a research report report published on Friday morning.
IMO has been the topic of a number of other research reports. Zacks Investment Research raised Imperial Oil from a hold rating to a strong-buy rating and set a $33.00 price target on the stock in a report on Tuesday, May 16th. Goldman Sachs Group, Inc. (The) lowered Imperial Oil from a neutral rating to a sell rating in a report on Wednesday, April 5th. Raymond James Financial, Inc. raised Imperial Oil from a market perform rating to an outperform rating in a report on Wednesday, April 12th. ValuEngine raised Imperial Oil from a sell rating to a hold rating in a report on Thursday, May 11th. Finally, National Bank Financial initiated coverage on Imperial Oil in a report on Tuesday, June 27th. They set a sector perform rating on the stock. Five investment 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 company has an average rating of Hold and a consensus price target of $44.78.
Shares of Imperial Oil (IMO) opened at 28.64 on Friday. The stock has a 50 day moving average price of $29.17 and a 200-day moving average price of $30.29. Imperial Oil has a 52 week low of $27.59 and a 52 week high of $36.85. The stock has a market cap of $24.18 billion, a P/E ratio of 11.34 and a beta of 1.14.
Imperial Oil (NYSEMKT:IMO) (TSE:IMO) last released its quarterly 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. Imperial Oil had a return on equity of 5.31% and a net margin of 4.76%. The company had revenue of $7.03 billion for the quarter, compared to analysts’ expectations of $8.40 billion. During the same period in the prior year, the business earned ($0.21) EPS. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. Equities analysts predict that Imperial Oil will post $1.34 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 1st will be paid a dividend of $0.1279 per share. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.12. The ex-dividend date is Wednesday, August 30th. This represents a $0.51 annualized dividend and a dividend yield of 1.79%. Imperial Oil’s payout ratio is 170.37%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Quantbot Technologies LP bought a new position in shares of Imperial Oil during the first quarter valued at about $129,000. Albert D Mason Inc. increased its position in shares of Imperial Oil by 0.4% in the first quarter. Albert D Mason Inc. now owns 7,183 shares of the energy company’s stock valued at $219,000 after buying an additional 30 shares in the last quarter. Nexus Investment Management Inc. bought a new position in shares of Imperial Oil during the second quarter valued at about $227,000. AGF Investments Inc. increased its position in shares of Imperial Oil by 14.6% in the first quarter. AGF Investments Inc. now owns 7,982 shares of the energy company’s stock valued at $243,000 after buying an additional 1,016 shares in the last quarter. Finally, Wetherby Asset Management Inc. increased its position in shares of Imperial Oil by 17.7% in the first quarter. Wetherby Asset Management Inc. now owns 8,043 shares of the energy company’s stock valued at $245,000 after buying an additional 1,209 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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