Imperial Oil Ltd (NYSEAMERICAN:IMO) (TSE:IMO) was the recipient of a large drop in short interest in December. As of December 29th, there was short interest totalling 8,881,705 shares, a drop of 1.7% from the December 15th total of 9,033,778 shares. Based on an average trading volume of 198,125 shares, the days-to-cover ratio is presently 44.8 days. Currently, 3.4% of the shares of the stock are short sold.
Several large investors have recently modified their holdings of the company. PNC Financial Services Group Inc. grew its position in shares of Imperial Oil by 0.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 33,488 shares of the energy company’s stock worth $977,000 after buying an additional 152 shares during the period. Virtu KCG Holdings LLC grew its position in shares of Imperial Oil by 9.7% during the 2nd quarter. Virtu KCG Holdings LLC now owns 9,207 shares of the energy company’s stock worth $268,000 after buying an additional 817 shares during the period. Ameriprise Financial Inc. grew its holdings in Imperial Oil by 12.3% during the second quarter. Ameriprise Financial Inc. now owns 8,222 shares of the energy company’s stock valued at $241,000 after purchasing an additional 900 shares during the period. Guardian Capital LP grew its holdings in Imperial Oil by 5.7% during the third quarter. Guardian Capital LP now owns 35,250 shares of the energy company’s stock valued at $1,123,000 after purchasing an additional 1,911 shares during the period. Finally, Pacad Investment Ltd. grew its holdings in Imperial Oil by 46.9% during the second quarter. Pacad Investment Ltd. now owns 7,200 shares of the energy company’s stock valued at $210,000 after purchasing an additional 2,300 shares during the period.
Shares of Imperial Oil (NYSEAMERICAN IMO) opened at $31.17 on Friday. Imperial Oil has a 1 year low of $27.59 and a 1 year high of $34.77. The company has a market cap of $25,970.00, a P/E ratio of 15.98 and a beta of 0.88.
Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last issued its quarterly earnings results on Friday, October 27th. The energy company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.03). Imperial Oil had a return on equity of 5.95% and a net margin of 5.19%. The business had revenue of $5.71 billion for the quarter, compared to analyst estimates of $6.58 billion. During the same quarter in the prior year, the firm earned $1.18 EPS.
The firm also recently declared a quarterly dividend, which was paid on Monday, January 1st. Stockholders of record on Friday, December 1st were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Thursday, November 30th. Imperial Oil’s dividend payout ratio is 26.15%.
Several equities research analysts have weighed in on the stock. Canaccord Genuity restated a “hold” rating and issued a $45.00 price objective on shares of Imperial Oil in a research report on Thursday, November 2nd. Barclays cut shares of Imperial Oil from an “overweight” rating to an “underweight” rating in a research report on Thursday, November 2nd. Royal Bank of Canada cut shares of Imperial Oil from a “sector perform” rating to an “underperform” rating in a research report on Thursday, November 2nd. TheStreet upgraded shares of Imperial Oil from a “c” rating to a “b-” rating in a research report on Friday, October 27th. Finally, Tudor Pickering upgraded shares of Imperial Oil to a “hold” rating in a research report on Monday, January 8th. Eight equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. The stock has an average rating of “Hold” and an average target price of $41.25.
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About Imperial Oil
Imperial Oil Limited is an integrated oil company. The Company is engaged in all the phases of the petroleum industry in Canada, including exploration for, and production and sale of, crude oil and natural gas. Its operations are conducted in three segments: Upstream, Downstream and Chemical. The Upstream operations include the exploration for, and production of, crude oil, natural gas, synthetic oil and bitumen.
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