5,679 Shares in Imperial Oil Limited (NYSEAMERICAN:IMO) Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC purchased a new position in Imperial Oil Limited (NYSEAMERICAN:IMOGet Rating) (TSE:IMO) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 5,679 shares of the energy company’s stock, valued at approximately $280,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Comerica Bank acquired a new stake in shares of Imperial Oil during the 1st quarter worth approximately $569,000. DekaBank Deutsche Girozentrale grew its stake in shares of Imperial Oil by 4.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 12,332 shares of the energy company’s stock worth $596,000 after purchasing an additional 520 shares during the period. Signaturefd LLC grew its stake in shares of Imperial Oil by 12.5% during the 1st quarter. Signaturefd LLC now owns 2,875 shares of the energy company’s stock worth $139,000 after purchasing an additional 320 shares during the period. FDx Advisors Inc. acquired a new stake in shares of Imperial Oil during the 1st quarter worth approximately $260,000. Finally, Measured Wealth Private Client Group LLC acquired a new stake in shares of Imperial Oil during the 1st quarter worth approximately $283,000. Institutional investors and hedge funds own 20.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IMO. Desjardins increased their target price on Imperial Oil from C$70.00 to C$80.00 in a research report on Tuesday, November 8th. Royal Bank of Canada increased their target price on Imperial Oil from C$79.00 to C$81.00 in a research report on Tuesday, November 8th. Credit Suisse Group reiterated a “neutral” rating and set a $72.00 target price on shares of Imperial Oil in a research report on Thursday, August 11th. Scotiabank lowered Imperial Oil from an “outperform” rating to a “sector perform” rating in a report on Thursday, October 13th. Finally, National Bank Financial raised their price objective on Imperial Oil from C$73.00 to C$80.00 in a report on Thursday, November 3rd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $72.30.

Imperial Oil Stock Up 1.0 %

Shares of IMO opened at $57.20 on Wednesday. Imperial Oil Limited has a 52-week low of $31.71 and a 52-week high of $58.99. The firm has a market capitalization of $34.98 billion, a price-to-earnings ratio of 88.00, a P/E/G ratio of 0.31 and a beta of 1.70. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.32 and a quick ratio of 1.09.

Imperial Oil (NYSEAMERICAN:IMOGet Rating) (TSE:IMO) last issued its quarterly earnings data on Wednesday, November 2nd. The energy company reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.13. The firm had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $14.33 billion. Imperial Oil had a return on equity of 8.06% and a net margin of 1.81%. As a group, research analysts predict that Imperial Oil Limited will post 2.92 EPS for the current fiscal year.

Imperial Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Investors of record on Friday, December 2nd will be given a dividend of $0.3226 per share. This represents a $1.29 dividend on an annualized basis and a dividend yield of 2.26%. This is an increase from Imperial Oil’s previous quarterly dividend of $0.26. The ex-dividend date is Thursday, December 1st. Imperial Oil’s dividend payout ratio (DPR) is presently 160.00%.

Imperial Oil 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.

Further Reading

Institutional Ownership by Quarter for Imperial Oil (NYSEAMERICAN:IMO)

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