Imperial Oil Ltd (IMO) Short Interest Up 5.0% in December
Imperial Oil Ltd (NYSEAMERICAN:IMO) (TSE:IMO) saw a significant growth in short interest in December. As of December 31st, there was short interest totalling 8,420,556 shares, a growth of 5.0% from the December 14th total of 8,019,654 shares. Based on an average trading volume of 391,948 shares, the short-interest ratio is currently 21.5 days.
A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of Imperial Oil from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Tuesday, October 9th. CIBC initiated coverage on shares of Imperial Oil in a report on Friday, October 5th. They set a “sector underperform” rating for the company. TheStreet downgraded shares of Imperial Oil from a “b-” rating to a “c+” rating in a research report on Monday, December 24th. Canaccord Genuity downgraded shares of Imperial Oil from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Macquarie raised shares of Imperial Oil from an “underperform” rating to a “neutral” rating in a research report on Wednesday, November 28th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. Imperial Oil currently has an average rating of “Hold” and an average price target of $43.20.
Institutional investors and hedge funds have recently made changes to their positions in the business. Wolverine Asset Management LLC acquired a new stake in shares of Imperial Oil during the 2nd quarter valued at approximately $166,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Imperial Oil in the second quarter valued at $229,000. Fruth Investment Management acquired a new stake in shares of Imperial Oil in the third quarter valued at $246,000. Tower Research Capital LLC TRC lifted its holdings in shares of Imperial Oil by 260.9% in the second quarter. Tower Research Capital LLC TRC now owns 8,383 shares of the energy company’s stock valued at $279,000 after buying an additional 6,060 shares during the period. Finally, BlackRock Inc. lifted its holdings in shares of Imperial Oil by 506.6% in the third quarter. BlackRock Inc. now owns 9,705 shares of the energy company’s stock valued at $314,000 after buying an additional 8,105 shares during the period.
Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last posted its quarterly earnings results on Friday, November 2nd. The energy company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. The business had revenue of $9.73 billion during the quarter, compared to analysts’ expectations of $10.67 billion. During the same quarter last year, the firm earned $0.44 EPS. The firm’s quarterly revenue was up 36.0% compared to the same quarter last year.
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About Imperial Oil
Imperial Oil Limited explores for, produces, and sells crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream, and Chemical. The Upstream segment explores for and produces crude oil, natural gas, synthetic oil, and bitumen. As of December 31, 2017, this segment had 450 million oil-equivalent barrels of proved undeveloped reserves.
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