Imperial Oil (NYSEAMERICAN:IMO) Sees Large Volume Increase After Analyst Upgrade

Imperial Oil Limited (NYSEAMERICAN:IMOGet Rating) (TSE:IMO) saw unusually-strong trading volume on Friday after National Bank Financial raised their price target on the stock from C$80.00 to C$93.00. Approximately 36,840 shares changed hands during trading, a decline of 94% from the previous session’s volume of 591,221 shares.The stock last traded at $47.75 and had previously closed at $50.72.

Other equities analysts also recently issued reports about the stock. Raymond James increased their price objective on shares of Imperial Oil from C$55.00 to C$57.00 in a report on Wednesday, March 2nd. BMO Capital Markets increased their target price on shares of Imperial Oil from C$65.00 to C$70.00 in a research report on Monday, May 2nd. Credit Suisse Group increased their target price on shares of Imperial Oil from C$65.00 to C$72.00 in a research report on Monday, May 9th. TD Securities increased their target price on shares of Imperial Oil from C$65.00 to C$71.00 in a research report on Thursday, May 5th. Finally, Royal Bank of Canada raised their price objective on shares of Imperial Oil from C$66.00 to C$78.00 in a research report on Thursday. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Imperial Oil presently has an average rating of “Hold” and an average target price of $64.00.

A number of hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC raised its holdings in Imperial Oil by 12.5% during the first quarter. Signaturefd LLC now owns 2,875 shares of the energy company’s stock worth $139,000 after purchasing an additional 320 shares in the last quarter. Wetherby Asset Management Inc. boosted its position in shares of Imperial Oil by 2.7% in the 4th quarter. Wetherby Asset Management Inc. now owns 14,390 shares of the energy company’s stock worth $519,000 after buying an additional 375 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in Imperial Oil by 3.5% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 11,812 shares of the energy company’s stock valued at $418,000 after purchasing an additional 397 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake in Imperial Oil by 2.8% during the first quarter. Oppenheimer & Co. Inc. now owns 18,025 shares of the energy company’s stock worth $871,000 after purchasing an additional 499 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in Imperial Oil by 36.6% during the first quarter. Van ECK Associates Corp now owns 2,268 shares of the energy company’s stock worth $110,000 after purchasing an additional 608 shares during the last quarter. 20.97% of the stock is currently owned by institutional investors.

The company has a market capitalization of $32.06 billion, a PE ratio of 77.02, a price-to-earnings-growth ratio of 0.31 and a beta of 1.70. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.32 and a quick ratio of 1.09.

Imperial Oil (NYSEAMERICAN:IMOGet Rating) (TSE:IMO) last issued its earnings results on Friday, April 29th. The energy company reported $1.75 earnings per share for the quarter, missing the consensus estimate of $1.78 by ($0.03). Imperial Oil had a return on equity of 8.06% and a net margin of 1.81%. During the same period last year, the business earned $0.53 earnings per share. As a group, sell-side analysts forecast that Imperial Oil Limited will post 2.92 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Thursday, June 2nd will be issued a dividend of $0.2648 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Wednesday, June 1st. Imperial Oil’s dividend payout ratio (DPR) is 166.16%.

Imperial Oil Company Profile (NYSEAMERICAN:IMO)

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 for, and produces crude oil, natural gas, synthetic oil, and bitumen. As of December 31, 2021, this segment had 386 million oil-equivalent barrels of proved undeveloped reserves.

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