Imperial Oil Ltd (NYSEAMERICAN:IMO) (TSE:IMO) saw a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 7,672,994 shares, a growth of 3.6% from the March 29th total of 7,409,880 shares. Based on an average trading volume of 421,898 shares, the short-interest ratio is currently 18.2 days.
NYSEAMERICAN IMO opened at $29.66 on Friday. Imperial Oil has a fifty-two week low of $24.29 and a fifty-two week high of $34.56.
Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last released its quarterly earnings data on Friday, February 1st. The energy company reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.24. The company had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $8.89 billion. The business’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.16) EPS.
A number of equities analysts recently issued reports on the company. Bank of America upgraded Imperial Oil from a “neutral” rating to a “buy” rating in a research note on Friday, January 4th. Desjardins restated a “hold” rating and issued a $38.00 target price on shares of Imperial Oil in a research note on Tuesday, February 5th. Credit Suisse Group upgraded Imperial Oil from an “underperform” rating to a “neutral” rating in a research note on Thursday, March 14th. AltaCorp Capital lowered Imperial Oil from a “sector perform” rating to an “underperform” rating in a research note on Monday, January 7th. Finally, Morgan Stanley set a $42.00 target price on Imperial Oil and gave the stock a “hold” rating in a research note on Tuesday, January 29th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $38.98.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Macquarie Group Ltd. purchased a new position in shares of Imperial Oil during the 4th quarter valued at about $38,000. Atlas Capital Advisors LLC purchased a new position in shares of Imperial Oil during the 4th quarter valued at about $138,000. Quadrant Capital Group LLC increased its stake in shares of Imperial Oil by 879.6% in the 4th quarter. Quadrant Capital Group LLC now owns 6,446 shares of the energy company’s stock valued at $157,000 after purchasing an additional 5,788 shares in the last quarter. Fruth Investment Management purchased a new position in shares of Imperial Oil in the 1st quarter valued at about $204,000. Finally, AlphaCrest Capital Management LLC purchased a new position in shares of Imperial Oil in the 4th quarter valued at about $220,000.
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Imperial Oil Company Profile
Imperial Oil Limited explores for, produces, and sells crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream, and Chemical. The Upstream segment explores for and produces crude oil, natural gas, synthetic oil, and bitumen. As of December 31, 2017, this segment had 450 million oil-equivalent barrels of proved undeveloped reserves.
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