Imperial Oil (NYSEAMERICAN:IMO) Rating Reiterated by Scotiabank

Scotiabank reiterated their sector perform rating on shares of Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) in a research report sent to investors on Wednesday, Marketbeat reports. They currently have a $110.00 target price on the energy company’s stock.

IMO has been the subject of several other research reports. Raymond James upgraded shares of Imperial Oil to a hold rating in a research report on Tuesday, May 28th. Wolfe Research assumed coverage on Imperial Oil in a report on Thursday, July 18th. They issued an outperform rating and a $108.00 price objective for the company. Finally, StockNews.com downgraded Imperial Oil from a buy rating to a hold rating in a research note on Wednesday, August 28th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $99.50.

Imperial Oil Stock Up 2.3 %

NYSEAMERICAN IMO opened at $70.29 on Wednesday. The company has a quick ratio of 1.16, a current ratio of 1.40 and a debt-to-equity ratio of 0.17. Imperial Oil has a one year low of $52.97 and a one year high of $77.70. The stock has a market capitalization of $37.14 billion, a PE ratio of 11.02 and a beta of 1.45.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last posted its earnings results on Friday, August 2nd. The energy company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.43 by $0.11. The company had revenue of $9.78 billion during the quarter, compared to analyst estimates of $10.50 billion. Imperial Oil had a return on equity of 22.73% and a net margin of 10.05%. As a group, equities analysts anticipate that Imperial Oil will post 6.2 earnings per share for the current year.

Imperial Oil Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Wednesday, September 4th will be issued a $0.4336 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.73 annualized dividend and a dividend yield of 2.47%. Imperial Oil’s dividend payout ratio is currently 27.90%.

Institutional Trading of Imperial Oil

A number of hedge funds have recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV lifted its stake in Imperial Oil by 5.1% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 3,266 shares of the energy company’s stock worth $223,000 after acquiring an additional 158 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Imperial Oil by 5.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,308 shares of the energy company’s stock valued at $237,000 after purchasing an additional 163 shares during the period. CWM LLC lifted its position in shares of Imperial Oil by 8.7% in the second quarter. CWM LLC now owns 2,319 shares of the energy company’s stock worth $158,000 after purchasing an additional 185 shares in the last quarter. OLD National Bancorp IN boosted its holdings in shares of Imperial Oil by 5.6% during the second quarter. OLD National Bancorp IN now owns 3,831 shares of the energy company’s stock worth $261,000 after purchasing an additional 204 shares during the period. Finally, Hexagon Capital Partners LLC grew its position in Imperial Oil by 84.0% during the first quarter. Hexagon Capital Partners LLC now owns 493 shares of the energy company’s stock valued at $34,000 after purchasing an additional 225 shares in the last quarter. 20.74% of the stock is owned by hedge funds and other institutional investors.

About Imperial Oil

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.