Imperial Oil Ltd (NYSEAMERICAN:IMO) (TSE:IMO) was the target of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 8,093,867 shares, a drop of 9.9% from the October 31st total of 8,985,451 shares. Based on an average daily trading volume, of 280,939 shares, the short-interest ratio is presently 28.8 days. Currently, 3.2% of the company’s shares are sold short.

Shares of Imperial Oil (IMO) opened at $31.19 on Friday. Imperial Oil has a 1 year low of $27.59 and a 1 year high of $36.85.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last released its quarterly earnings results on Friday, October 27th. The energy company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.03). Imperial Oil had a return on equity of 5.95% and a net margin of 5.19%. The firm had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $6.58 billion. During the same quarter in the previous year, the business posted $1.18 EPS.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 1st will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.50 annualized dividend and a yield of 1.60%. Imperial Oil’s payout ratio is 26.98%.

Several equities research analysts recently commented on the stock. BidaskClub upgraded shares of Imperial Oil from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 19th. Canaccord Genuity reiterated a “hold” rating and set a $45.00 target price on shares of Imperial Oil in a research report on Thursday, November 2nd. AltaCorp Capital downgraded shares of Imperial Oil from a “sector perform” rating to an “underperform” rating in a research report on Wednesday, August 23rd. Barclays downgraded shares of Imperial Oil from an “overweight” rating to an “underweight” rating in a research report on Thursday, November 2nd. Finally, J P Morgan Chase & Co downgraded shares of Imperial Oil from a “neutral” rating to an “underweight” rating and set a $38.00 target price on the stock. in a research report on Thursday, September 14th. Eight investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $41.25.

A number of institutional investors have recently added to or reduced their stakes in IMO. Roberts Glore & Co. Inc. IL bought a new position in Imperial Oil during the 3rd quarter worth approximately $202,000. Pacad Investment Ltd. raised its holdings in Imperial Oil by 46.9% during the 2nd quarter. Pacad Investment Ltd. now owns 7,200 shares of the energy company’s stock worth $210,000 after purchasing an additional 2,300 shares during the last quarter. Rathbone Brothers plc bought a new position in Imperial Oil during the 3rd quarter worth approximately $214,000. Ameriprise Financial Inc. raised its holdings in Imperial Oil by 12.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,222 shares of the energy company’s stock worth $241,000 after purchasing an additional 900 shares during the last quarter. Finally, Virtu KCG Holdings LLC raised its holdings in Imperial Oil by 9.7% during the 2nd quarter. Virtu KCG Holdings LLC now owns 9,207 shares of the energy company’s stock worth $268,000 after purchasing an additional 817 shares during the last quarter.

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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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