Imperial Oil Ltd (NYSEMKT:IMO) Announces Earnings Results, Misses Expectations By $0.30 EPS
Imperial Oil Ltd (NYSEMKT:IMO) (TSE:IMO) released its quarterly earnings results on Friday, July 28th. The energy company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.30, MarketWatch Earnings reports. The company had revenue of $7.03 billion during the quarter, compared to the consensus estimate of $8.40 billion. Imperial Oil had a net margin of 4.76% and a return on equity of 5.31%. The firm’s revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.21) earnings per share.
Imperial Oil (IMO) opened at 29.28 on Wednesday. The company has a 50-day moving average of $29.17 and a 200-day moving average of $30.23. The company has a market capitalization of $24.72 billion, a PE ratio of 11.59 and a beta of 1.14. Imperial Oil has a 52 week low of $27.59 and a 52 week high of $36.85.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 1st will be paid a $0.1279 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 1.75%. This is a boost from Imperial Oil’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Wednesday, August 30th. Imperial Oil’s dividend payout ratio (DPR) is 170.37%.
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Several research analysts have weighed in on the stock. Citigroup Inc. reissued a “neutral” rating on shares of Imperial Oil in a report on Wednesday, August 2nd. BidaskClub cut shares of Imperial Oil from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Zacks Investment Research cut shares of Imperial Oil from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Barclays PLC raised shares of Imperial Oil from an “equal weight” rating to an “overweight” rating in a report on Tuesday, July 11th. Finally, Raymond James Financial, Inc. cut shares of Imperial Oil from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 5th. Five research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. Imperial Oil presently has a consensus rating of “Hold” and an average price target of $44.78.
Hedge funds have recently made changes to their positions in the stock. Albert D Mason Inc. boosted its stake in shares of Imperial Oil by 0.4% in the first quarter. Albert D Mason Inc. now owns 7,183 shares of the energy company’s stock worth $219,000 after buying an additional 30 shares during the last quarter. Comerica Bank boosted its stake in shares of Imperial Oil by 1.3% in the first quarter. Comerica Bank now owns 13,983 shares of the energy company’s stock worth $411,000 after buying an additional 181 shares during the last quarter. World Asset Management Inc boosted its stake in shares of Imperial Oil by 1.3% in the first quarter. World Asset Management Inc now owns 15,175 shares of the energy company’s stock worth $463,000 after buying an additional 193 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Imperial Oil by 0.4% in the first quarter. JPMorgan Chase & Co. now owns 110,053 shares of the energy company’s stock worth $3,355,000 after buying an additional 447 shares during the last quarter. Finally, Davis Rea Ltd. boosted its stake in shares of Imperial Oil by 0.6% in the second quarter. Davis Rea Ltd. now owns 113,799 shares of the energy company’s stock worth $3,327,000 after buying an additional 626 shares during the last quarter.
Imperial Oil Company Profile
Imperial Oil Limited is an integrated oil company. The Company is engaged in all the phases of the petroleum industry in Canada, including exploration for, and production and sale of, crude oil and natural gas. Its operations are conducted in three segments: Upstream, Downstream and Chemical. The Upstream operations include the exploration for, and production of, crude oil, natural gas, synthetic oil and bitumen.
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