Imperial Oil Limited (NYSEAMERICAN:IMO) Receives Consensus Rating of “Hold” from Brokerages

Imperial Oil Limited (NYSEAMERICAN:IMO – Get Rating) (TSE:IMO) has been given an average rating of “Hold” by the eleven analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $77.38.

A number of research firms have issued reports on IMO. BMO Capital Markets upgraded shares of Imperial Oil from a “market perform” rating to an “outperform” rating and upped their target price for the company from $54.00 to $85.00 in a report on Friday, October 28th. Scotiabank lowered shares of Imperial Oil from an “outperform” rating to a “sector perform” rating in a report on Thursday, October 13th. Royal Bank of Canada upped their target price on shares of Imperial Oil from C$79.00 to C$81.00 in a report on Tuesday, November 8th. TD Securities dropped their price objective on shares of Imperial Oil from C$82.00 to C$81.00 in a research note on Wednesday, December 21st. Finally, JPMorgan Chase & Co. downgraded shares of Imperial Oil from a “neutral” rating to an “underweight” rating in a research note on Monday, December 5th.

Imperial Oil Stock Performance

NYSEAMERICAN:IMO opened at $49.16 on Friday. The stock has a market capitalization of $28.72 billion, a price-to-earnings ratio of 6.43, a PEG ratio of 0.24 and a beta of 1.50. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.06 and a current ratio of 1.23. Imperial Oil has a 12-month low of $38.31 and a 12-month high of $58.99.

Imperial Oil (NYSEAMERICAN:IMO – Get Rating) (TSE:IMO) last released its earnings results on Wednesday, November 2nd. The energy company reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.09 by $0.13. The company had revenue of $11.67 billion for the quarter, compared to analyst estimates of $14.33 billion. Imperial Oil had a net margin of 11.14% and a return on equity of 28.06%. Analysts forecast that Imperial Oil will post 7.57 earnings per share for the current fiscal year.

Imperial Oil Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, January 1st. Investors of record on Friday, December 2nd were given a dividend of $0.3226 per share. This represents a $1.29 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend was Thursday, December 1st. This is an increase from Imperial Oil’s previous quarterly dividend of $0.26. Imperial Oil’s dividend payout ratio is 17.15%.

Institutional Trading of Imperial Oil

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Radnor Capital Management LLC acquired a new stake in Imperial Oil during the 4th quarter worth approximately $219,000. Nexus Investment Management ULC boosted its holdings in Imperial Oil by 64.7% in the 4th quarter. Nexus Investment Management ULC now owns 11,846 shares of the energy company’s stock worth $577,000 after acquiring an additional 4,654 shares during the period. Rempart Asset Management Inc. purchased a new position in Imperial Oil in the 4th quarter worth approximately $222,000. Power Corp of Canada purchased a new position in Imperial Oil in the 3rd quarter worth approximately $1,913,000. Finally, SeaCrest Wealth Management LLC boosted its holdings in Imperial Oil by 3.5% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 10,589 shares of the energy company’s stock worth $458,000 after acquiring an additional 362 shares during the period. Institutional investors and hedge funds own 20.76% of the company’s stock.

Imperial Oil Company Profile

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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.