Sigma Planning Corp purchased a new stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO – Get Rating) (TSE:IMO) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,156 shares of the energy company’s stock, valued at approximately $431,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Comerica Bank purchased a new stake in shares of Imperial Oil in the first quarter worth about $569,000. FDx Advisors Inc. purchased a new stake in shares of Imperial Oil in the first quarter worth about $260,000. Metis Global Partners LLC purchased a new stake in shares of Imperial Oil in the first quarter worth about $430,000. Envestnet Asset Management Inc. purchased a new stake in shares of Imperial Oil in the first quarter worth about $1,661,000. Finally, Prospera Financial Services Inc purchased a new stake in shares of Imperial Oil in the first quarter worth about $856,000. Hedge funds and other institutional investors own 20.97% of the company’s stock.
Wall Street Analyst Weigh In
IMO has been the subject of a number of analyst reports. TD Securities downgraded Imperial Oil from a “buy” rating to a “hold” rating in a report on Tuesday, August 16th. Desjardins increased their price target on Imperial Oil from C$70.00 to C$80.00 in a report on Tuesday, November 8th. Credit Suisse Group increased their price target on Imperial Oil from C$72.00 to C$80.00 in a report on Monday. Scotiabank cut Imperial Oil from an “outperform” rating to a “sector perform” rating in a research note on Thursday, October 13th. Finally, Royal Bank of Canada upped their price objective on Imperial Oil from C$79.00 to C$81.00 in a research note on Tuesday, November 8th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $73.10.
Imperial Oil Price Performance
Imperial Oil (NYSEAMERICAN:IMO – Get Rating) (TSE:IMO) last issued its quarterly earnings results on Wednesday, November 2nd. The energy company reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.09 by $0.13. The firm had revenue of $11.67 billion during the quarter, compared to analyst estimates of $14.33 billion. Imperial Oil had a return on equity of 8.06% and a net margin of 1.81%. Equities research analysts anticipate that Imperial Oil Limited will post 2.92 EPS for the current year.
Imperial Oil Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Friday, December 2nd will be paid a dividend of $0.3226 per share. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.26. This represents a $1.29 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Thursday, December 1st. Imperial Oil’s dividend payout ratio (DPR) is presently 160.00%.
Imperial Oil Profile
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.
- Get a free copy of the StockNews.com research report on Imperial Oil (IMO)
- Salesforce Cuts Labor, Shows Strong Earnings Despite Challenges
- Microsoft Shares: Is it Time to Back Up the Truck?
- Institutional Support for Analog Devices Remains High
- Is the 60/40 Portfolio Mix Still in Vogue?
- Three CBD Stocks to Dominate a Budding Industry
Receive News & Ratings for Imperial Oil Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Imperial Oil and related companies with MarketBeat.com's FREE daily email newsletter.