Imperial Oil Limited (NYSEAMERICAN:IMO) Receives $91.50 Average Target Price from Analysts

Shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) have been given a consensus recommendation of “Hold” by the seven analysts that are covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $94.80.

A number of research analysts recently issued reports on the company. Raymond James raised Imperial Oil to a “hold” rating in a research report on Tuesday, May 28th. Scotiabank cut their target price on shares of Imperial Oil from $111.00 to $110.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Wolfe Research started coverage on shares of Imperial Oil in a research note on Thursday. They set an “outperform” rating and a $108.00 price target for the company. Finally, StockNews.com lowered shares of Imperial Oil from a “buy” rating to a “hold” rating in a research note on Monday, July 1st.

Imperial Oil Price Performance

Shares of NYSEAMERICAN IMO opened at $69.43 on Friday. The stock has a market cap of $37.20 billion, a PE ratio of 10.88 and a beta of 1.47. Imperial Oil has a fifty-two week low of $48.74 and a fifty-two week high of $74.58. The company has a current ratio of 1.34, a quick ratio of 1.04 and a debt-to-equity ratio of 0.17.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last released its quarterly earnings data on Friday, April 26th. The energy company reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.10. The company had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $11.61 billion. Imperial Oil had a net margin of 9.46% and a return on equity of 20.76%. As a group, research analysts predict that Imperial Oil will post 6.22 earnings per share for the current fiscal year.

Imperial Oil Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were paid a $0.4377 dividend. This represents a $1.75 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend was Monday, June 3rd. Imperial Oil’s payout ratio is currently 27.59%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. OLD National Bancorp IN purchased a new position in shares of Imperial Oil during the 3rd quarter worth approximately $232,000. Public Sector Pension Investment Board lifted its position in shares of Imperial Oil by 3.1% in the third quarter. Public Sector Pension Investment Board now owns 50,071 shares of the energy company’s stock valued at $3,098,000 after acquiring an additional 1,503 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Imperial Oil by 11.2% during the third quarter. Deutsche Bank AG now owns 259,211 shares of the energy company’s stock valued at $15,965,000 after acquiring an additional 26,206 shares during the last quarter. Wellington Management Group LLP increased its position in Imperial Oil by 296.1% during the 3rd quarter. Wellington Management Group LLP now owns 177,533 shares of the energy company’s stock worth $10,984,000 after purchasing an additional 132,713 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its stake in Imperial Oil by 14.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 61,800 shares of the energy company’s stock valued at $3,806,000 after purchasing an additional 8,000 shares during the last quarter. 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.