Wolfe Research Initiates Coverage on Imperial Oil (NYSEAMERICAN:IMO)

Wolfe Research began coverage on shares of Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage issued an outperform rating and a $108.00 price target on the energy company’s stock.

Several other research analysts have also recently commented on the stock. Raymond James upgraded shares of Imperial Oil to a hold rating in a report on Tuesday, May 28th. StockNews.com cut shares of Imperial Oil from a buy rating to a hold rating in a report on Monday, July 1st. Finally, Scotiabank lowered their target price on shares of Imperial Oil from $111.00 to $110.00 and set a sector outperform rating for the company in a report on Friday, July 12th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Imperial Oil has a consensus rating of Hold and an average target price of $94.80.

Imperial Oil Stock Down 0.7 %

Shares of NYSEAMERICAN IMO opened at $69.43 on Thursday. 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 firm has a market capitalization of $37.20 billion, a PE ratio of 10.88 and a beta of 1.47. Imperial Oil has a twelve month low of $48.74 and a twelve month high of $74.58.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last posted its quarterly earnings data 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 during 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%. As a group, analysts anticipate that Imperial Oil will post 6.22 earnings per share for the current year.

Imperial Oil Cuts Dividend

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

Institutional Trading of Imperial Oil

Institutional investors and hedge funds have recently bought and sold shares of the business. AdvisorNet Financial Inc increased its position in 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 acquiring an additional 180 shares during the period. Hexagon Capital Partners LLC raised its stake in shares of Imperial Oil by 84.0% during the first quarter. Hexagon Capital Partners LLC now owns 493 shares of the energy company’s stock worth $34,000 after purchasing an additional 225 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Imperial Oil during the fourth quarter worth $44,000. Assetmark Inc. grew its position in Imperial Oil by 938.5% in the 4th quarter. Assetmark Inc. now owns 810 shares of the energy company’s stock valued at $46,000 after buying an additional 732 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in Imperial Oil in the 1st quarter valued at $46,000. Hedge funds and other 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.