Imperial Oil Limited (IMO) Upgraded at Citigroup Inc.
Imperial Oil Limited (NYSEMKT:IMO) was upgraded by equities researchers at Citigroup Inc. to an “outperform” rating in a research report issued to clients and investors on Thursday. The brokerage currently has a $50.00 price objective on the stock. Citigroup Inc.’s price objective would suggest a potential upside of 66.83% from the company’s previous close.
A number of other research analysts have also commented on the stock. TD Securities reiterated a “buy” rating and set a $48.00 price objective (down previously from $49.00) on shares of Imperial Oil Limited in a research note on Thursday, August 4th. Bank of America Corp. began coverage on shares of Imperial Oil Limited in a research report on Friday, August 19th. They issued an “underperform” rating and a $32.00 price target on the stock. Scotiabank restated a “sector perform” rating and issued a $45.00 price target on shares of Imperial Oil Limited in a research report on Wednesday, August 3rd. Credit Suisse Group AG restated a “neutral” rating and issued a $48.00 price target (up previously from $46.00) on shares of Imperial Oil Limited in a research report on Wednesday, August 24th. Finally, JPMorgan Chase & Co. began coverage on shares of Imperial Oil Limited in a research report on Thursday, August 25th. They issued a “neutral” rating on the stock. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. Imperial Oil Limited has a consensus rating of “Hold” and an average target price of $44.67.
Imperial Oil Limited (NYSEMKT:IMO) opened at 29.97 on Thursday. The firm’s 50 day moving average price is $30.88 and its 200-day moving average price is $31.67. The stock has a market cap of $25.40 billion, a price-to-earnings ratio of 112.67 and a beta of 1.14. Imperial Oil Limited has a 52 week low of $25.55 and a 52 week high of $35.48.
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Imperial Oil Limited (NYSEMKT:IMO) last posted its quarterly earnings data on Friday, July 29th. The company reported ($0.21) EPS for the quarter, missing the Zacks’ consensus estimate of $0.09 by $0.30. The company had revenue of $6.25 billion for the quarter. During the same quarter last year, the firm earned $0.14 EPS. The firm’s revenue for the quarter was down 14.4% compared to the same quarter last year. Analysts expect that Imperial Oil Limited will post $0.45 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Friday, September 2nd will be paid a $0.1135 dividend. This represents a $0.45 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Wednesday, August 31st. Imperial Oil Limited’s dividend payout ratio is 170.37%.
A number of institutional investors have recently bought and sold shares of the company. M&R Capital Management Inc. purchased a new position in Imperial Oil Limited during the second quarter worth approximately $113,000. Tower Research Capital LLC TRC raised its position in Imperial Oil Limited by 1,447.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,930 shares of the company’s stock worth $124,000 after buying an additional 3,676 shares in the last quarter. Zions Bancorporation raised its position in Imperial Oil Limited by 1,948.1% in the first quarter. Zions Bancorporation now owns 4,731 shares of the company’s stock worth $158,000 after buying an additional 4,500 shares in the last quarter. Hillsdale Investment Management Inc. raised its position in Imperial Oil Limited by 20.8% in the second quarter. Hillsdale Investment Management Inc. now owns 5,760 shares of the company’s stock worth $182,000 after buying an additional 990 shares in the last quarter. Finally, AGF Investments Inc. raised its position in Imperial Oil Limited by 121.1% in the second quarter. AGF Investments Inc. now owns 6,966 shares of the company’s stock worth $220,000 after buying an additional 3,816 shares in the last quarter.
Imperial Oil Limited Company Profile
Imperial Oil Limited is an integrated oil company. The Company is engaged in the exploration for, and production and sale of, crude oil and natural gas. The Company’s operations are conducted in three segments: Upstream, Downstream and Chemical. Upstream operations include the exploration for, and production of, crude oil, natural gas, synthetic oil and bitumen.
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