Imperial Oil’s (IMO) “Hold” Rating Reaffirmed at Canaccord Genuity
Canaccord Genuity reaffirmed their hold rating on shares of Imperial Oil Ltd (NYSEMKT:IMO) (TSE:IMO) in a research note issued to investors on Thursday morning. The brokerage currently has a $45.00 price objective on the energy company’s stock.
Other analysts also recently issued reports about the company. UBS Group AG (USA) downgraded Imperial Oil from an outperform rating to a market perform rating in a research report on Wednesday, July 5th. Barclays PLC downgraded Imperial Oil from an overweight rating to an underweight rating in a research report on Thursday. Royal Bank Of Canada downgraded Imperial Oil from a sector perform rating to an underperform rating in a research report on Thursday. Citigroup Inc reiterated a neutral rating on shares of Imperial Oil in a research report on Wednesday, August 2nd. Finally, Zacks Investment Research downgraded Imperial Oil from a hold rating to a sell rating in a research report on Tuesday, July 18th. Eight equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. The company currently has an average rating of Hold and an average price target of $43.00.
Shares of Imperial Oil (IMO) traded up $0.65 during mid-day trading on Thursday, hitting $31.22. The stock had a trading volume of 356,531 shares, compared to its average volume of 219,050. Imperial Oil has a twelve month low of $27.59 and a twelve month high of $36.85.
Imperial Oil (NYSEMKT:IMO) (TSE:IMO) last posted its quarterly earnings data on Friday, October 27th. The energy company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.03). The firm had revenue of $5.71 billion for the quarter, compared to analysts’ expectations of $6.58 billion. Imperial Oil had a return on equity of 5.95% and a net margin of 5.19%. During the same period in the previous year, the firm earned $1.18 earnings per share.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 1st will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.50 annualized dividend and a dividend yield of 1.60%.
Several hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. raised its holdings in shares of Imperial Oil by 2.8% in the third quarter. American Century Companies Inc. now owns 10,762,693 shares of the energy company’s stock valued at $343,819,000 after acquiring an additional 298,225 shares in the last quarter. Cumberland Partners Ltd bought a new stake in shares of Imperial Oil in the third quarter valued at about $433,000. Crossmark Global Holdings Inc. bought a new stake in shares of Imperial Oil in the third quarter valued at about $1,483,000. Highstreet Asset Management Inc. raised its holdings in shares of Imperial Oil by 80.3% in the third quarter. Highstreet Asset Management Inc. now owns 58,338 shares of the energy company’s stock valued at $1,864,000 after acquiring an additional 25,988 shares in the last quarter. Finally, Korea Investment CORP raised its holdings in shares of Imperial Oil by 7.6% in the third quarter. Korea Investment CORP now owns 244,779 shares of the energy company’s stock valued at $7,801,000 after acquiring an additional 17,291 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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