Imperial Oil Ltd (NYSEAMERICAN:IMO) (TSE:IMO) was the recipient of a significant drop in short interest during the month of September. As of September 14th, there was short interest totalling 11,138,228 shares, a drop of 7.5% from the August 31st total of 12,042,190 shares. Based on an average trading volume of 236,909 shares, the short-interest ratio is currently 47.0 days.
Several brokerages have commented on IMO. Zacks Investment Research lowered shares of Imperial Oil from a “buy” rating to a “hold” rating in a research note on Wednesday, July 18th. Barclays upgraded shares of Imperial Oil from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, July 11th. Finally, TheStreet upgraded shares of Imperial Oil from a “c” rating to a “b-” rating in a research note on Wednesday, May 30th. Two research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $43.60.
Shares of NYSEAMERICAN:IMO opened at $32.23 on Thursday. Imperial Oil has a 52 week low of $25.91 and a 52 week high of $34.29.
Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last announced its quarterly earnings results on Friday, July 27th. The energy company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.26). Imperial Oil had a negative net margin of 1.70% and a negative return on equity of 2.22%. The firm had revenue of $9.54 billion during the quarter, compared to analyst estimates of $9 billion. During the same quarter in the previous year, the business posted ($0.09) EPS. Imperial Oil’s revenue for the quarter was up 35.7% compared to the same quarter last year.
Several large investors have recently made changes to their positions in IMO. Wolverine Asset Management LLC acquired a new stake in shares of Imperial Oil in the second quarter valued at approximately $166,000. Quantbot Technologies LP increased its stake in shares of Imperial Oil by 114.1% during the first quarter. Quantbot Technologies LP now owns 6,752 shares of the energy company’s stock valued at $178,000 after acquiring an additional 3,598 shares during the period. Creative Planning acquired a new position in shares of Imperial Oil during the second quarter valued at approximately $209,000. Oppenheimer & Co. Inc. acquired a new position in shares of Imperial Oil during the second quarter valued at approximately $229,000. Finally, Suntrust Banks Inc. acquired a new position in shares of Imperial Oil during the first quarter valued at approximately $277,000.
Imperial Oil Company Profile
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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