Shares of Imperial Oil Limited (NYSEAMERICAN:IMO – Get Free Report) (TSE:IMO) have received an average recommendation of “Strong Sell” from the nine brokerages that are currently covering the stock, Marketbeat reports. Five analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $116.00.
Several analysts recently commented on the stock. Imperial Capital restated a “sell” rating on shares of Imperial Oil in a research report on Tuesday, June 23rd. Zacks Research lowered shares of Imperial Oil from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Scotiabank restated a “sector perform” rating on shares of Imperial Oil in a research report on Friday, July 17th. Desjardins raised Imperial Oil to a “hold” rating in a report on Thursday, July 16th. Finally, TD Securities reaffirmed a “sell” rating on shares of Imperial Oil in a research note on Wednesday, August 5th.
View Our Latest Stock Report on Imperial Oil
Imperial Oil Stock Performance
Imperial Oil (NYSEAMERICAN:IMO – Get Free Report) (TSE:IMO) last announced its quarterly earnings results on Friday, July 31st. The energy company reported $4.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.99 by $1.53. The company had revenue of $11.31 billion during the quarter, compared to the consensus estimate of $10.92 billion. Imperial Oil had a return on equity of 22.28% and a net margin of 8.03%.Imperial Oil’s revenue for the quarter was up 43.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.86 earnings per share. On average, equities analysts forecast that Imperial Oil will post 11.19 earnings per share for the current year.
Imperial Oil Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be issued a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Friday, September 4th. Imperial Oil’s payout ratio is presently 38.09%.
Hedge Funds Weigh In On Imperial Oil
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Root Financial Partners LLC increased its stake in Imperial Oil by 87.8% during the 4th quarter. Root Financial Partners LLC now owns 293 shares of the energy company’s stock worth $25,000 after buying an additional 137 shares in the last quarter. McMillan Office Inc. purchased a new position in Imperial Oil in the 4th quarter valued at $26,000. Northwestern Mutual Wealth Management Co. boosted its stake in Imperial Oil by 737.7% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 511 shares of the energy company’s stock worth $46,000 after purchasing an additional 450 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Imperial Oil by 23.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 531 shares of the energy company’s stock valued at $46,000 after acquiring an additional 101 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC purchased a new position in Imperial Oil in the 3rd quarter worth approximately $54,000. 20.74% of the stock is owned by hedge funds and other institutional investors.
About Imperial Oil
Imperial Oil Limited is an integrated Canadian energy company engaged in the exploration, production, transportation, refining and marketing of crude oil and natural gas. Its upstream operations include oil sands mining and in situ production, conventional oil and natural gas assets, and an interest in the Syncrude oil sands project.
The company’s downstream business operates refineries and produces gasoline, diesel, jet fuel, lubricants, asphalt and other petroleum products. Imperial markets fuels and related products across Canada primarily under the Esso and Mobil brands, serving retail, commercial, industrial and aviation customers.
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