Imperial Oil Ltd (NYSEAMERICAN:IMO) (TSE:IMO) was the target of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 8,093,867 shares, a decrease of 9.9% from the October 31st total of 8,985,451 shares. Currently, 3.2% of the shares of the company are sold short. Based on an average trading volume of 280,939 shares, the short-interest ratio is currently 28.8 days.
Imperial Oil (IMO) traded down $0.20 during trading hours on Wednesday, reaching $31.02. 182,264 shares of the company’s stock were exchanged, compared to its average volume of 240,166. Imperial Oil has a 52 week low of $27.59 and a 52 week high of $36.85.
Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last issued its earnings results on Friday, October 27th. The energy company reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.03). The business had revenue of $5.71 billion during the quarter, compared to analyst estimates of $6.58 billion. Imperial Oil had a net margin of 5.19% and a return on equity of 5.95%. During the same quarter last year, the company earned $1.18 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 1st will be issued a $0.125 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.50 annualized dividend and a yield of 1.61%. Imperial Oil’s dividend payout ratio (DPR) is 26.04%.
Several equities analysts recently issued reports on the stock. BidaskClub upgraded shares of Imperial Oil from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 19th. AltaCorp Capital cut shares of Imperial Oil from a “sector perform” rating to an “underperform” rating in a research note on Wednesday, August 23rd. J P Morgan Chase & Co cut shares of Imperial Oil from a “neutral” rating to an “underweight” rating and set a $38.00 target price for the company. in a research note on Thursday, September 14th. Morgan Stanley boosted their target price on shares of Imperial Oil from $36.00 to $42.00 and gave the company an “underweight” rating in a research note on Friday, October 13th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $40.00 target price on shares of Imperial Oil in a research note on Monday, October 16th. Eight analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. Imperial Oil currently has an average rating of “Hold” and a consensus price target of $41.25.
A number of large investors have recently modified their holdings of IMO. Artisan Partners Limited Partnership raised its holdings in Imperial Oil by 21.9% during the third quarter. Artisan Partners Limited Partnership now owns 25,962,913 shares of the energy company’s stock worth $829,398,000 after purchasing an additional 4,669,993 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in Imperial Oil by 30.0% during the third quarter. First Eagle Investment Management LLC now owns 12,113,231 shares of the energy company’s stock worth $387,134,000 after purchasing an additional 2,793,989 shares in the last quarter. American Century Companies Inc. raised its holdings in Imperial Oil by 2.8% during the third quarter. American Century Companies Inc. now owns 10,762,693 shares of the energy company’s stock worth $343,819,000 after purchasing an additional 298,225 shares in the last quarter. TD Asset Management Inc. raised its holdings in Imperial Oil by 7.3% during the third quarter. TD Asset Management Inc. now owns 9,202,299 shares of the energy company’s stock worth $293,295,000 after purchasing an additional 628,346 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Imperial Oil by 3.6% during the second quarter. Vanguard Group Inc. now owns 6,492,668 shares of the energy company’s stock worth $189,456,000 after purchasing an additional 224,641 shares in the last quarter.
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Imperial Oil Company Profile
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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