Imperial Oil Limited (NYSEAMERICAN:IMO) Receives $99.50 Consensus PT from Brokerages

Shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) have been assigned a consensus rating of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $99.50.

Several research firms have commented on IMO. Scotiabank reiterated a “sector perform” rating and set a $110.00 price objective on shares of Imperial Oil in a research note on Wednesday. StockNews.com cut Imperial Oil from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Finally, Wolfe Research began coverage on Imperial Oil in a report on Thursday, July 18th. They set an “outperform” rating and a $108.00 price target on the stock.

Institutional Investors Weigh In On Imperial Oil

Hedge funds and other institutional investors have recently modified their holdings of the stock. Manning & Napier Advisors LLC purchased a new position in shares of Imperial Oil during the 2nd quarter worth approximately $3,064,000. US Bancorp DE grew its holdings in shares of Imperial Oil by 91.6% during the first quarter. US Bancorp DE now owns 20,210 shares of the energy company’s stock worth $1,397,000 after buying an additional 9,660 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Imperial Oil during the first quarter worth about $720,000. Fiera Capital Corp raised its position in shares of Imperial Oil by 262.5% in the second quarter. Fiera Capital Corp now owns 95,455 shares of the energy company’s stock valued at $6,511,000 after buying an additional 69,121 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of Imperial Oil by 1,250.9% during the first quarter. Bessemer Group Inc. now owns 7,849 shares of the energy company’s stock valued at $542,000 after buying an additional 7,268 shares during the period. 20.74% of the stock is currently owned by institutional investors and hedge funds.

Imperial Oil Stock Up 2.3 %

Shares of Imperial Oil stock opened at $70.29 on Thursday. Imperial Oil has a 52-week low of $52.97 and a 52-week high of $77.70. The company has a current ratio of 1.40, a quick ratio of 1.16 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $37.14 billion, a PE ratio of 11.02 and a beta of 1.45.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last issued its earnings results on Friday, August 2nd. The energy company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.11. Imperial Oil had a net margin of 10.05% and a return on equity of 22.73%. The firm had revenue of $9.78 billion during the quarter, compared to analysts’ expectations of $10.50 billion. On average, equities research analysts forecast that Imperial Oil will post 6.2 EPS for the current fiscal year.

Imperial Oil Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.4336 per share. This represents a $1.73 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Wednesday, September 4th. Imperial Oil’s payout ratio is 27.90%.

Imperial Oil Company Profile

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.