Imperial Oil Limited Sees Large Decline in Short Interest (IMO)
Shares of Imperial Oil Limited (NYSE:IMO) saw a significant decline in short interest in the month of June. As of June 13th, there was short interest totalling 7,266,756 shares, a decline of 3.5% from the May 30th total of 7,527,230 shares, Analyst Ratings News reports. Currently, 2.8% of the shares of the company are sold short. Based on an average daily volume of 160,781 shares, the short-interest ratio is presently 45.2 days.
Several analysts have recently commented on the stock. Analysts at BMO Capital Markets downgraded shares of Imperial Oil Limited from an “outperform” rating to an “underperform” rating in a research note on Friday, May 2nd. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Imperial Oil Limited in a research note on Thursday, April 17th. They now have a $60.00 price target on the stock. Finally, analysts at Desjardins downgraded shares of Imperial Oil Limited from a “hold” rating to a “sell” rating in a research note on Thursday, April 17th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $51.40.
Imperial Oil Limited (NYSE:IMO) opened at 51.67 on Wednesday. Imperial Oil Limited has a 52 week low of $37.38 and a 52 week high of $53.10. The stock has a 50-day moving average of $49.92 and a 200-day moving average of $45.91. The company has a market cap of $43.795 billion and a P/E ratio of 16.45.
Imperial Oil Limited (NYSE:IMO) last announced its earnings results on Thursday, May 1st. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.03. On average, analysts predict that Imperial Oil Limited will post $4.36 earnings per share for the current fiscal year.
Imperial Oil Limited (NYSE:IMO) is an integrated oil company.
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