Barclays PLC Reaffirms “Equal Weight” Rating for Imperial Oil Limited (IMO)
Imperial Oil Limited (NYSEMKT:IMO)‘s stock had its “equal weight” rating reissued by equities researchers at Barclays PLC in a note issued to investors on Monday. They presently have a $50.00 target price on the stock, up from their prior target price of $48.00. Barclays PLC’s price objective would indicate a potential upside of 52.58% from the company’s current price.
IMO has been the subject of several other reports. JPMorgan Chase & Co. started coverage on Imperial Oil Limited in a report on Thursday, August 25th. They issued a “neutral” rating for the company. Scotiabank reiterated a “sector perform” rating and issued a $45.00 price objective on shares of Imperial Oil Limited in a research note on Friday, September 23rd. Citigroup Inc. upgraded Imperial Oil Limited to an “outperform” rating and set a $50.00 price objective on the stock in a research note on Thursday, September 22nd. TD Securities reiterated a “buy” rating and issued a $48.00 price objective (down previously from $49.00) on shares of Imperial Oil Limited in a research note on Thursday, August 4th. Finally, Credit Suisse Group AG set a $46.00 price objective on Imperial Oil Limited and gave the company a “hold” rating in a research note on Sunday, July 31st. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $45.10.
Imperial Oil Limited (NYSEMKT:IMO) traded up 1.87% during trading on Monday, reaching $32.77. The company’s stock had a trading volume of 61,240 shares. Imperial Oil Limited has a 12 month low of $25.55 and a 12 month high of $35.48. The stock’s 50 day moving average is $30.90 and its 200 day moving average is $31.46. The company has a market cap of $27.78 billion, a price-to-earnings ratio of 122.73 and a beta of 1.14.
Imperial Oil Limited (NYSEMKT:IMO) last issued its quarterly earnings data on Friday, July 29th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by $0.30. The business earned $6.25 billion during the quarter. Imperial Oil Limited’s quarterly revenue was down 14.4% on a year-over-year basis. During the same quarter last year, the company posted $0.14 earnings per share. On average, equities analysts expect that Imperial Oil Limited will post $0.37 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Friday, September 2nd were given a $0.1135 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $0.45 dividend on an annualized basis and a dividend yield of 1.39%. Imperial Oil Limited’s dividend payout ratio (DPR) is presently 170.37%.
Several large investors have recently modified their holdings of the company. M&R Capital Management Inc. acquired a new stake in shares of Imperial Oil Limited during the second quarter worth about $113,000. Tower Research Capital LLC TRC boosted 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 boosted 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. boosted 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. boosted 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.
About Imperial Oil Limited
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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