Imperial Oil (NYSEAMERICAN:IMO) Sets New 1-Year High at $77.59

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) hit a new 52-week high during trading on Monday . The stock traded as high as $77.59 and last traded at $77.55, with a volume of 16603 shares trading hands. The stock had previously closed at $76.17.

Analyst Ratings Changes

Several analysts have issued reports on IMO shares. Wolfe Research began coverage on shares of Imperial Oil in a research report on Thursday, July 18th. They set an “outperform” rating and a $108.00 price target on the stock. Raymond James upgraded shares of Imperial Oil to a “hold” rating in a research note on Tuesday, May 28th. Scotiabank reduced their price target on Imperial Oil from $111.00 to $110.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Finally, StockNews.com upgraded Imperial Oil from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Imperial Oil has an average rating of “Hold” and a consensus target price of $94.80.

Imperial Oil Trading Up 0.6 %

The company has a debt-to-equity ratio of 0.17, a current ratio of 1.34 and a quick ratio of 1.04. The firm has a market capitalization of $41.05 billion, a PE ratio of 11.94 and a beta of 1.47.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last issued its quarterly earnings results on Friday, August 2nd. The energy company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.11. The company had revenue of $9.78 billion during the quarter, compared to the consensus estimate of $10.50 billion. Imperial Oil had a net margin of 9.46% and a return on equity of 20.76%. Research analysts anticipate that Imperial Oil Limited will post 6.22 earnings per share for the current year.

Imperial Oil Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Wednesday, September 4th will be issued a $0.4336 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $1.73 dividend on an annualized basis and a dividend yield of 2.26%. Imperial Oil’s dividend payout ratio (DPR) is currently 27.59%.

Institutional Trading of Imperial Oil

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Fiera Capital Corp increased its stake in shares of Imperial Oil by 262.5% in the second quarter. Fiera Capital Corp now owns 95,455 shares of the energy company’s stock valued at $6,511,000 after buying an additional 69,121 shares during the period. Creative Planning grew its holdings in Imperial Oil by 14.5% during the 2nd quarter. Creative Planning now owns 38,305 shares of the energy company’s stock worth $2,614,000 after acquiring an additional 4,843 shares during the last quarter. Kathmere Capital Management LLC raised its stake in shares of Imperial Oil by 15.4% during the second quarter. Kathmere Capital Management LLC now owns 4,192 shares of the energy company’s stock valued at $286,000 after acquiring an additional 558 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Imperial Oil by 9.7% during the second quarter. Mackenzie Financial Corp now owns 445,497 shares of the energy company’s stock worth $30,379,000 after purchasing an additional 39,488 shares during the period. Finally, AXA S.A. lifted its holdings in shares of Imperial Oil by 15.4% during the second quarter. AXA S.A. now owns 4,528 shares of the energy company’s stock worth $309,000 after purchasing an additional 604 shares during the period. Institutional investors own 20.74% of the company’s stock.

Imperial Oil Company Profile

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.