Imperial Oil Ltd (NYSEMKT:IMO) (TSE:IMO) posted its quarterly earnings data on Friday, October 27th. The energy company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.03), Morningstar.com reports. Imperial Oil had a return on equity of 5.95% and a net margin of 5.19%. The company had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $6.58 billion. During the same quarter in the previous year, the firm posted $1.18 EPS.
Shares of Imperial Oil (NYSEMKT IMO) opened at $32.03 on Friday. Imperial Oil has a 12 month low of $27.59 and a 12 month high of $36.85.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 1st will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Thursday, November 30th.
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Several analysts have recently weighed in on IMO shares. BidaskClub upgraded shares of Imperial Oil from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Morgan Stanley boosted their price target on shares of Imperial Oil from $36.00 to $42.00 and gave the company an “underweight” rating in a research report on Friday, October 13th. Barclays PLC lowered shares of Imperial Oil from an “overweight” rating to an “underweight” rating in a research report on Thursday, November 2nd. Royal Bank of Canada restated a “hold” rating and issued a $40.00 price target on shares of Imperial Oil in a research report on Monday, October 16th. Finally, AltaCorp Capital lowered shares of Imperial Oil from a “sector perform” rating to an “underperform” rating in a research report on Wednesday, August 23rd. Eight investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $41.25.
A number of large investors have recently modified their holdings of the business. Wells Fargo & Company MN increased its stake in Imperial Oil by 8.1% in the third quarter. Wells Fargo & Company MN now owns 96,926 shares of the energy company’s stock valued at $3,095,000 after purchasing an additional 7,263 shares in the last quarter. Schroder Investment Management Group bought a new stake in Imperial Oil in the third quarter valued at approximately $32,074,000. Legal & General Group Plc increased its stake in Imperial Oil by 2.2% in the third quarter. Legal & General Group Plc now owns 1,174,041 shares of the energy company’s stock valued at $37,417,000 after purchasing an additional 25,032 shares in the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of Imperial Oil by 4.7% in the third quarter. Great West Life Assurance Co. Can now owns 1,376,546 shares of the energy company’s stock valued at $43,756,000 after buying an additional 61,749 shares during the period. Finally, TD Asset Management Inc. boosted its holdings in shares of Imperial Oil by 7.3% in the third quarter. TD Asset Management Inc. now owns 9,202,299 shares of the energy company’s stock valued at $293,295,000 after buying an additional 628,346 shares during the period.
Imperial Oil Company Profile
Imperial Oil Limited is an integrated oil company. The Company is engaged in all the phases of the petroleum industry in Canada, including exploration for, and production and sale of, crude oil and natural gas. Its operations are conducted in three segments: Upstream, Downstream and Chemical. The Upstream operations include the exploration for, and production of, crude oil, natural gas, synthetic oil and bitumen.
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