Imperial Oil Ltd (NYSEAMERICAN:IMO) (TSE:IMO) has earned a consensus recommendation of “Hold” from the fourteen analysts that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $26.44.
Several analysts have recently commented on the stock. Raymond James reiterated a “hold” rating and issued a $21.00 target price on shares of Imperial Oil in a report on Wednesday, August 5th. TheStreet downgraded shares of Imperial Oil from a “c” rating to a “d+” rating in a report on Friday, July 31st. Barclays began coverage on shares of Imperial Oil in a report on Wednesday, September 2nd. They issued an “equal weight” rating for the company. Finally, Morgan Stanley downgraded shares of Imperial Oil from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective for the company. in a report on Wednesday, July 8th. They noted that the move was a valuation call.
Several hedge funds have recently added to or reduced their stakes in IMO. FIL Ltd boosted its position in shares of Imperial Oil by 19.0% in the second quarter. FIL Ltd now owns 14,309,888 shares of the energy company’s stock valued at $230,206,000 after acquiring an additional 2,283,302 shares during the period. FMR LLC boosted its position in shares of Imperial Oil by 61.8% in the second quarter. FMR LLC now owns 4,631,905 shares of the energy company’s stock valued at $74,515,000 after acquiring an additional 1,769,458 shares during the period. First Eagle Investment Management LLC boosted its position in shares of Imperial Oil by 6.9% in the second quarter. First Eagle Investment Management LLC now owns 26,118,036 shares of the energy company’s stock valued at $420,166,000 after acquiring an additional 1,689,433 shares during the period. Heathbridge Capital Management Ltd. bought a new position in shares of Imperial Oil in the first quarter valued at approximately $16,034,000. Finally, Toronto Dominion Bank boosted its position in shares of Imperial Oil by 45.6% in the second quarter. Toronto Dominion Bank now owns 1,611,872 shares of the energy company’s stock valued at $25,931,000 after acquiring an additional 504,487 shares during the period.
Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last released its quarterly earnings data on Friday, July 31st. The energy company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.17. The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $3.09 billion.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be given a $0.1638 dividend. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date is Thursday, September 3rd.
About Imperial Oil
Imperial Oil Limited explores for, produces, and sells crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream, and Chemical. The Upstream segment explores for and produces crude oil, natural gas, synthetic oil, and bitumen. As of December 31, 2017, this segment had 450 million oil-equivalent barrels of proved undeveloped reserves.
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