Imperial Oil (NYSEAMERICAN:IMO) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) from a hold rating to a buy rating in a report released on Monday.

Imperial Oil Price Performance

IMO stock opened at $67.39 on Monday. Imperial Oil has a twelve month low of $44.46 and a twelve month high of $74.58. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 1.26. The stock has a market cap of $36.11 billion, a P/E ratio of 10.56 and a beta of 1.48.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last announced its earnings results on Friday, April 26th. The energy company reported $1.65 EPS for the quarter, topping the consensus estimate 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 return on equity of 20.71% and a net margin of 9.46%. As a group, equities research analysts expect that Imperial Oil will post 6.07 EPS for the current fiscal year.

Imperial Oil Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.4377 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Monday, June 3rd. Imperial Oil’s dividend payout ratio is currently 27.74%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Blue Trust Inc. raised its position in shares of Imperial Oil by 7.1% in the first quarter. Blue Trust Inc. now owns 7,415 shares of the energy company’s stock valued at $513,000 after purchasing an additional 491 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in Imperial Oil during the 1st quarter worth approximately $242,000. Greenleaf Trust bought a new position in Imperial Oil during the 1st quarter worth approximately $239,000. Principal Financial Group Inc. lifted its stake in Imperial Oil by 41.6% in the first quarter. Principal Financial Group Inc. now owns 13,540 shares of the energy company’s stock valued at $935,000 after buying an additional 3,980 shares during the period. Finally, Triasima Portfolio Management inc. boosted its holdings in Imperial Oil by 18.2% in the first quarter. Triasima Portfolio Management inc. now owns 319,300 shares of the energy company’s stock worth $22,024,000 after acquiring an additional 49,200 shares in the last quarter. 20.74% of the stock is currently owned by institutional investors.

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.