Imperial Oil Ltd (NYSEMKT:IMO) Releases Earnings Results, Misses Expectations By $0.30 EPS
Imperial Oil Ltd (NYSEMKT:IMO) (TSE:IMO) posted its quarterly earnings data on Friday. The energy company reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.30, MarketWatch Earnings reports. Imperial Oil had a return on equity of 5.31% and a net margin of 4.76%. The firm had revenue of $7.03 billion during the quarter, compared to the consensus estimate of $8.40 billion. During the same period in the prior year, the firm posted ($0.21) EPS. The firm’s quarterly revenue was up 12.6% on a year-over-year basis.
Shares of Imperial Oil (NYSEMKT IMO) traded down 2.23% during midday trading on Friday, hitting $28.99. The stock had a trading volume of 392,240 shares. Imperial Oil has a 52 week low of $27.59 and a 52 week high of $36.85. The stock has a market capitalization of $24.57 billion, a price-to-earnings ratio of 11.47 and a beta of 1.14. The stock has a 50 day moving average price of $29.16 and a 200-day moving average price of $30.40.
The business also recently announced a quarterly dividend, which was paid on Saturday, July 1st. Stockholders of record on Friday, June 2nd were given a dividend of $0.1185 per share. The ex-dividend date was Wednesday, May 31st. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.11. This represents a $0.47 dividend on an annualized basis and a dividend yield of 1.64%. Imperial Oil’s payout ratio is 170.37%.
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A number of analysts have recently commented on the company. UBS AG raised Imperial Oil from a “market perform” rating to an “outperform” rating in a research note on Monday, April 10th. Barclays PLC raised Imperial Oil from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 11th. Zacks Investment Research downgraded Imperial Oil from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. BidaskClub downgraded Imperial Oil from a “sell” rating to a “strong sell” rating in a research note on Friday. Finally, National Bank Financial assumed coverage on Imperial Oil in a research note on Tuesday, June 27th. They issued a “sector perform” rating on the stock. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $44.78.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP acquired a new stake in shares of Imperial Oil during the first quarter valued at approximately $129,000. Albert D Mason Inc. increased its stake 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 during the last quarter. Nexus Investment Management Inc. acquired a new stake in shares of Imperial Oil during the second quarter valued at approximately $227,000. AGF Investments Inc. increased its stake 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 during the last quarter. Finally, Wetherby Asset Management Inc. increased its stake 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 during 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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