Imperial Oil (NYSEAMERICAN:IMO) Sees Large Volume Increase

Imperial Oil Limited (NYSEAMERICAN:IMOGet Rating) (TSE:IMO) saw strong trading volume on Friday . 30,948 shares were traded during mid-day trading, a decline of 95% from the previous session’s volume of 608,772 shares.The stock last traded at $42.28 and had previously closed at $45.06.

Analyst Ratings Changes

IMO has been the subject of several analyst reports. Credit Suisse Group restated a “neutral” rating and set a $72.00 price target on shares of Imperial Oil in a research note on Thursday, August 11th. National Bank Financial reduced their target price on shares of Imperial Oil from C$93.00 to C$86.00 in a research note on Monday, July 18th. Scotiabank lifted their target price on shares of Imperial Oil from C$72.00 to C$80.00 in a report on Wednesday, June 8th. Royal Bank of Canada cut their price target on shares of Imperial Oil from C$85.00 to C$84.00 in a report on Tuesday, August 9th. Finally, Desjardins lowered Imperial Oil from a “buy” rating to a “hold” rating in a report on Wednesday, July 27th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $65.55.

Imperial Oil Stock Performance

The stock has a market cap of $26.80 billion, a PE ratio of 64.74, 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:IMOGet Rating) (TSE:IMO) last released its quarterly earnings data 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. The firm had revenue of $13.56 billion during the quarter, compared to the consensus estimate of $17 billion. Imperial Oil had a return on equity of 8.06% and a net margin of 1.81%. Sell-side analysts anticipate that Imperial Oil Limited will post 2.92 earnings per share for the current year.

Imperial Oil Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Friday, September 2nd will be paid a dividend of $0.2645 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Thursday, September 1st. Imperial Oil’s dividend payout ratio (DPR) is presently 160.00%.

Institutional Trading of Imperial Oil

Several institutional investors and hedge funds have recently modified their holdings of IMO. Savant Capital LLC lifted its holdings in Imperial Oil by 1.3% in the 2nd quarter. Savant Capital LLC now owns 21,233 shares of the energy company’s stock valued at $1,000,000 after purchasing an additional 267 shares in the last quarter. Signaturefd LLC boosted its position in Imperial Oil by 12.5% during the first quarter. Signaturefd LLC now owns 2,875 shares of the energy company’s stock worth $139,000 after acquiring an additional 320 shares during the last quarter. J. W. Coons Advisors LLC grew its stake in Imperial Oil by 3.6% in the 2nd quarter. J. W. Coons Advisors LLC now owns 9,235 shares of the energy company’s stock worth $437,000 after acquiring an additional 325 shares during the period. Wetherby Asset Management Inc. grew its stake in Imperial Oil by 2.7% in the 4th quarter. Wetherby Asset Management Inc. now owns 14,390 shares of the energy company’s stock worth $519,000 after acquiring an additional 375 shares during the period. Finally, Quadrant Capital Group LLC raised its holdings in Imperial Oil by 8.3% in the 2nd quarter. Quadrant Capital Group LLC now owns 4,894 shares of the energy company’s stock valued at $231,000 after acquiring an additional 376 shares during the last quarter. Hedge funds and other institutional investors own 20.97% of the company’s stock.

About Imperial Oil

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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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