Imperial Oil (NYSEAMERICAN:IMO) Releases Earnings Results, Misses Estimates By $0.03 EPS

Imperial Oil (NYSEAMERICAN:IMOGet Rating) (TSE:IMO) announced its earnings results on Friday. The energy company reported $1.75 earnings per share for the quarter, missing analysts’ consensus estimates of $1.78 by ($0.03), Briefing.com reports. Imperial Oil had a return on equity of 8.06% and a net margin of 1.81%. During the same quarter in the prior year, the company posted $0.53 EPS.

Shares of NYSEAMERICAN IMO traded down $1.93 during midday trading on Monday, hitting $48.21. The company’s stock had a trading volume of 15,957 shares, compared to its average volume of 550,159. Imperial Oil has a one year low of $23.94 and a one year high of $52.54. The company has a quick ratio of 1.09, a current ratio of 1.32 and a debt-to-equity ratio of 0.24. The firm has a market cap of $32.26 billion, a P/E ratio of 77.14, a price-to-earnings-growth ratio of 0.31 and a beta of 1.70.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 1st. Stockholders of record on Thursday, March 3rd were given a $0.2673 dividend. The ex-dividend date of this dividend was Wednesday, March 2nd. This represents a $1.07 annualized dividend and a dividend yield of 2.22%. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.22. Imperial Oil’s payout ratio is 164.62%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Stifel Financial Corp increased its holdings in Imperial Oil by 28.2% during the 4th quarter. Stifel Financial Corp now owns 11,732 shares of the energy company’s stock worth $423,000 after acquiring an additional 2,581 shares during the period. Schonfeld Strategic Advisors LLC bought a new stake in Imperial Oil during the 4th quarter worth approximately $434,000. LPL Financial LLC increased its holdings in Imperial Oil by 34.1% during the 3rd quarter. LPL Financial LLC now owns 20,502 shares of the energy company’s stock worth $647,000 after acquiring an additional 5,215 shares during the period. Alliancebernstein L.P. increased its holdings in Imperial Oil by 111.4% during the 4th quarter. Alliancebernstein L.P. now owns 102,652 shares of the energy company’s stock worth $3,706,000 after acquiring an additional 54,098 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Imperial Oil by 0.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 268,784 shares of the energy company’s stock worth $8,483,000 after acquiring an additional 1,806 shares during the period. 20.97% of the stock is currently owned by institutional investors.

A number of equities analysts recently weighed in on IMO shares. Raymond James lifted their target price on shares of Imperial Oil from C$55.00 to C$57.00 in a research note on Wednesday, March 2nd. TD Securities lifted their price target on shares of Imperial Oil from C$52.00 to C$58.00 in a research note on Thursday, February 24th. The Goldman Sachs Group raised shares of Imperial Oil from a “neutral” rating to a “buy” rating in a research note on Friday, February 11th. BMO Capital Markets lifted their price target on shares of Imperial Oil from C$60.00 to C$65.00 in a research note on Monday, March 14th. Finally, Bank of America initiated coverage on shares of Imperial Oil in a research note on Monday, January 10th. They issued a “buy” rating and a $47.00 price target for the company. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Imperial Oil has an average rating of “Hold” and an average target price of $54.00.

Imperial Oil Company Profile (Get Rating)

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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Earnings History for Imperial Oil (NYSEAMERICAN:IMO)

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