Imperial Oil Ltd (IMO) Raised to Overweight at Barclays PLC

Claudine Rigal
Juillet 18, 2017

Other hedge funds and other institutional investors have also modified their holdings of the company.

06/27/2017 - National Bank Financial began new coverage on Imperial Oil Limited giving the company a " rating. Scout Investments Inc. now owns 1,263,569 shares of the energy company's stock worth $42,203,000 after buying an additional 751,060 shares during the period. Nexus Investment Management Inc. acquired a new stake in shares of Imperial Oil during the second quarter worth about $227,000. AGF Investments Inc. raised its position in Imperial Oil by 14.6% in the first quarter. Its up 5.71% from 6.43 million shares, reported previously. TD Asset Management Inc. now owns 7,779,220 shares of the energy company's stock valued at $236,362,000 after buying an additional 156,127 shares in the last quarter. Finally, Scout Investments Inc. raised its position in Imperial Oil by 146.5% in the first quarter. Bank of Montreal Can now owns 6,145,174 shares of the energy company's stock worth $187,428,000 after buying an additional 56,698 shares during the period.

Barclays PLC upgraded shares of Imperial Oil Ltd (NYSEMKT:IMO) (TSE:IMO) from an equal weight rating to an overweight rating in a report published on Tuesday, reports. The stock has a market cap of $24.90 billion, a PE ratio of 12.49 and a beta of 1.14. Imperial Oil Ltd has a 12 month low of $27.59 and a 12 month high of $36.85. The stock has a 50 day moving average of $38.62 and a 200-day moving average of $41.69. The rating was downgraded by Goldman Sachs to "Neutral" on Wednesday, August 5. The energy company reported $0.30 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by $0.13. The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $9.14 billion. Imperial Oil had a net margin of 4.76% and a return on equity of 5.31%.

The company also recently disclosed a quarterly dividend, which was paid on Saturday, July 1st. Utd Ser Automobile Association invested in 0.03% or 290,976 shares. Its up 0.08, from 1.07 in 2016Q3. This is a positive change from Imperial Oil's previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Wednesday, May 31st. Imperial Oil's payout ratio is 170.37%.

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IMO has been the topic of several analyst reports. UBS AG downgraded Imperial Oil from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 5th. Finally, ValuEngine upgraded shares of Imperial Oil from a sell rating to a hold rating in a research report on Thursday, May 11th. Zacks Investment Research raised shares of Imperial Oil from a "strong sell" rating to a "hold" rating in a research report on Monday, June 19th.

10/24/2016 - Imperial Oil Limited was upgraded to " by analysts at Credit Suisse. BidaskClub raised Imperial Oil from a "strong sell" rating to a "sell" rating in a research note on Tuesday, June 13th. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $44.00. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. They now have a United States dollars 36 price target on the stock.

Davis-Rea Ltd increased Imperial Oil (IMO) stake by 28.86% reported in 2016Q4 SEC filing. 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. The Company's activities are conducted in three divisions: Upstream, Downstream and Chemical.

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