Imperial Oil (NYSEAMERICAN:IMO) Sees Large Volume Increase

Shares of Imperial Oil Limited (NYSEAMERICAN:IMOGet Rating) (TSE:IMO) saw unusually-high trading volume on Friday . Approximately 30,948 shares changed hands during trading, a decline of 95% from the previous session’s volume of 608,772 shares.The stock last traded at $42.28 and had previously closed at $45.06.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada lowered their price objective on Imperial Oil from C$85.00 to C$84.00 in a research report on Tuesday, August 9th. TD Securities cut shares of Imperial Oil from a “buy” rating to a “hold” rating in a research report on Tuesday, August 16th. Scotiabank boosted their target price on shares of Imperial Oil from C$72.00 to C$80.00 in a report on Wednesday, June 8th. Desjardins downgraded Imperial Oil from a “buy” rating to a “hold” rating in a research note on Wednesday, July 27th. Finally, National Bank Financial decreased their target price on Imperial Oil from C$93.00 to C$86.00 in a research note on Monday, July 18th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $65.55.

Imperial Oil Stock Performance

The company has a market cap of $26.80 billion, a P/E ratio of 64.74, a PEG ratio of 0.31 and a beta of 1.70. The company has a current ratio of 1.32, a quick ratio of 1.09 and a debt-to-equity ratio of 0.24.

Imperial Oil (NYSEAMERICAN:IMOGet Rating) (TSE:IMO) last posted its quarterly earnings results on Friday, July 29th. The energy company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.52. The firm had revenue of $13.56 billion during the quarter, compared to analysts’ expectations of $17 billion. Imperial Oil had a return on equity of 8.06% and a net margin of 1.81%. On average, sell-side analysts predict that Imperial Oil Limited will post 2.92 EPS for the current year.

Imperial Oil Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Friday, September 2nd will be given a dividend of $0.2645 per share. The ex-dividend date is Thursday, September 1st. This represents a $1.06 dividend on an annualized basis and a yield of 2.49%. Imperial Oil’s dividend payout ratio (DPR) is presently 160.00%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Ritholtz Wealth Management lifted its stake in Imperial Oil by 56.6% during the 1st quarter. Ritholtz Wealth Management now owns 18,044 shares of the energy company’s stock valued at $872,000 after acquiring an additional 6,522 shares during the period. Metis Global Partners LLC acquired a new stake in Imperial Oil during the 1st quarter worth about $430,000. Radnor Capital Management LLC purchased a new position in shares of Imperial Oil during the 1st quarter valued at about $215,000. Hillsdale Investment Management Inc. lifted its holdings in shares of Imperial Oil by 104.5% in the 1st quarter. Hillsdale Investment Management Inc. now owns 553,510 shares of the energy company’s stock valued at $26,770,000 after buying an additional 282,910 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of Imperial Oil by 4.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 12,332 shares of the energy company’s stock worth $596,000 after buying an additional 520 shares during the last quarter. 20.97% of the stock is currently owned by hedge funds and other institutional investors.

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.

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