Insider Selling: Imperial Oil Ltd (IMO) Insider Sells C$26,125.70 in Stock

Imperial Oil Ltd (TSE:IMO) (NYSEMKT:IMO) insider Jonathan Wetmore sold 614 shares of Imperial Oil stock in a transaction dated Tuesday, September 25th. The stock was sold at an average price of C$42.55, for a total value of C$26,125.70.

TSE IMO opened at C$43.57 on Monday. Imperial Oil Ltd has a 52-week low of C$33.43 and a 52-week high of C$44.91.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last released its quarterly earnings results on Friday, July 27th. The company reported C$0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.51 by C($0.27). The company had revenue of C$9.54 billion during the quarter, compared to analysts’ expectations of C$7.64 billion.

The business also recently declared a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Tuesday, September 4th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date was Friday, August 31st.

A number of analysts have recently commented on the company. National Bank Financial lifted their target price on Imperial Oil from C$40.00 to C$45.00 and gave the stock a “c$43.73” rating in a research report on Wednesday, July 18th. Goldman Sachs Group cut their target price on Imperial Oil from C$43.00 to C$41.00 in a research report on Friday, September 7th. Raymond James lifted their target price on Imperial Oil from C$45.00 to C$50.00 in a research report on Friday. BMO Capital Markets lifted their target price on Imperial Oil from C$42.00 to C$44.00 in a research report on Monday, July 30th. Finally, JPMorgan Chase & Co. lifted their target price on Imperial Oil from C$45.00 to C$49.00 in a research report on Friday. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of C$45.07.

About Imperial Oil

Imperial Oil Limited explores for, produces, and sells crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream, and Chemical. The Upstream segment explores for and produces crude oil, natural gas, synthetic oil, and bitumen. As of December 31, 2017, this segment had 450 million oil-equivalent barrels of proved undeveloped reserves.

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