Imperial Oil Limited (NYSEAMERICAN:IMO) Receives $99.50 Average Target Price from Analysts

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) has been given an average rating of “Hold” by the six research firms that are presently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $99.50.

Several equities analysts have issued reports on IMO shares. Raymond James raised shares of Imperial Oil to a “hold” rating in a report on Tuesday, May 28th. Scotiabank reduced their target price on shares of Imperial Oil from $111.00 to $110.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Wolfe Research assumed coverage on shares of Imperial Oil in a research report on Thursday, July 18th. They set an “outperform” rating and a $108.00 price target for the company. Finally, StockNews.com cut shares of Imperial Oil from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th.

Hedge Funds Weigh In On Imperial Oil

Institutional investors have recently bought and sold shares of the company. RFP Financial Group LLC purchased a new stake in shares of Imperial Oil in the 2nd quarter worth about $25,000. Hexagon Capital Partners LLC increased its position in Imperial Oil by 84.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 493 shares of the energy company’s stock worth $34,000 after purchasing an additional 225 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in Imperial Oil during the 4th quarter worth approximately $44,000. Assetmark Inc. grew its position in Imperial Oil by 938.5% in the fourth quarter. Assetmark Inc. now owns 810 shares of the energy company’s stock valued at $46,000 after acquiring an additional 732 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Imperial Oil in the first quarter valued at approximately $46,000. 20.74% of the stock is owned by institutional investors and hedge funds.

Imperial Oil Trading Down 3.3 %

IMO opened at $72.77 on Friday. Imperial Oil has a 1 year low of $52.97 and a 1 year high of $77.70. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.16 and a current ratio of 1.40. The stock has a market capitalization of $38.81 billion, a price-to-earnings ratio of 11.41 and a beta of 1.47.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last released its earnings results on Friday, August 2nd. The energy company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.11. Imperial Oil had a return on equity of 22.73% and a net margin of 10.05%. The firm had revenue of $9.78 billion during the quarter, compared to the consensus estimate of $10.50 billion. As a group, research analysts anticipate that Imperial Oil will post 6.29 EPS for the current fiscal year.

Imperial Oil Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Wednesday, September 4th will be paid a $0.4336 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $1.73 annualized dividend and a yield of 2.38%. Imperial Oil’s dividend payout ratio is currently 27.59%.

About Imperial Oil

Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment transports and refines crude oil, blends refined products, and distributes and markets of refined products.