Imperial Oil Limited (NYSEAMERICAN:IMO – Get Rating) (TSE:IMO) shares saw unusually-high trading volume on Thursday . Approximately 38,037 shares were traded during trading, a decline of 94% from the previous session's volume of 609,102 shares.The stock last traded at $43.44 and had previously closed at $44.12.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on IMO. Royal Bank of Canada lowered their target price on Imperial Oil from C$85.00 to C$84.00 in a report on Tuesday, August 9th. Credit Suisse Group restated a "neutral" rating and set a $72.00 target price on shares of Imperial Oil in a report on Thursday, August 11th. Desjardins downgraded shares of Imperial Oil from a "buy" rating to a "hold" rating in a report on Wednesday, July 27th. TD Securities cut shares of Imperial Oil from a "buy" rating to a "hold" rating in a research note on Tuesday, August 16th. Finally, National Bank Financial reduced their target price on Imperial Oil from C$93.00 to C$86.00 in a research note on Monday, July 18th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $65.55.
Get Imperial Oil alerts:Imperial Oil Trading Up 0.7 %
The stock has a market capitalization of $28.07 billion, a PE ratio of 68.00, a P/E/G ratio of 0.31 and a beta of 1.70. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.09 and a current ratio of 1.32.
Imperial Oil (NYSEAMERICAN:IMO – Get Rating) (TSE:IMO) last posted its earnings results on Friday, July 29th. The energy company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.52. Imperial Oil had a net margin of 1.81% and a return on equity of 8.06%. The business had revenue of $13.56 billion for the quarter, compared to analyst estimates of $17 billion. Analysts expect that Imperial Oil Limited will post 2.92 earnings per share for the current year.Imperial Oil Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Friday, September 2nd will be given a dividend of $0.2645 per share. This represents a $1.06 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Thursday, September 1st. Imperial Oil's dividend payout ratio (DPR) is presently 160.00%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in IMO. ACG Wealth acquired a new position in Imperial Oil in the 2nd quarter worth $30,000. Atlas Capital Advisors LLC bought a new stake in shares of Imperial Oil in the first quarter worth $33,000. AlphaCentric Advisors LLC acquired a new stake in Imperial Oil in the fourth quarter valued at $69,000. Twin Tree Management LP bought a new position in Imperial Oil during the 2nd quarter valued at $69,000. Finally, Venture Visionary Partners LLC acquired a new position in Imperial Oil during the 2nd quarter worth $85,000. 20.97% of the stock is currently owned by hedge funds and other institutional investors.
Imperial Oil Company Profile
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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 for, and produces crude oil, natural gas, synthetic oil, and bitumen. As of December 31, 2021, this segment had 386 million oil-equivalent barrels of proved undeveloped reserves.
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