StockNews.com Upgrades Imperial Oil (NYSEAMERICAN:IMO) to “Buy”

StockNews.com upgraded shares of Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) from a hold rating to a buy rating in a research note issued to investors on Sunday morning.

Imperial Oil Price Performance

IMO opened at $69.50 on Friday. Imperial Oil has a 12 month low of $44.89 and a 12 month high of $74.58. The company has a quick ratio of 1.04, a current ratio of 1.34 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $37.24 billion, a PE ratio of 10.89 and a beta of 1.47.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last released its quarterly earnings results on Friday, April 26th. The energy company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.55 by $0.10. The business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $11.61 billion. Imperial Oil had a net margin of 9.46% and a return on equity of 20.76%. On average, equities research analysts predict that Imperial Oil will post 6.07 EPS for the current fiscal year.

Imperial Oil Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a $0.4377 dividend. This represents a $1.75 annualized dividend and a yield of 2.52%. The ex-dividend date is Monday, June 3rd. Imperial Oil’s dividend payout ratio (DPR) is presently 27.74%.

Institutional Investors Weigh In On Imperial Oil

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AdvisorNet Financial Inc boosted its holdings in shares of Imperial Oil by 52.6% in the 4th quarter. AdvisorNet Financial Inc now owns 522 shares of the energy company’s stock valued at $30,000 after buying an additional 180 shares during the period. Hexagon Capital Partners LLC grew its stake in Imperial Oil by 84.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 493 shares of the energy company’s stock worth $34,000 after buying an additional 225 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in Imperial Oil during the 4th quarter valued at about $44,000. Assetmark Inc. boosted its position in shares of Imperial Oil by 938.5% during the fourth quarter. Assetmark Inc. now owns 810 shares of the energy company’s stock worth $46,000 after buying an additional 732 shares during the period. Finally, Headlands Technologies LLC bought a new stake in shares of Imperial Oil in the 1st quarter worth $46,000. Hedge funds and other institutional investors own 20.74% of the company’s stock.

About Imperial Oil

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.