Short Interest in Imperial Oil Limited (NYSEAMERICAN:IMO) Increases By 8.6%

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) was the recipient of a large increase in short interest during the month of August. As of August 15th, there was short interest totalling 14,320,000 shares, an increase of 8.6% from the July 31st total of 13,180,000 shares. Currently, 8.6% of the shares of the company are sold short. Based on an average daily trading volume, of 367,100 shares, the days-to-cover ratio is currently 39.0 days.

Institutional Trading of Imperial Oil

Large investors have recently made changes to their positions in the stock. Manning & Napier Advisors LLC acquired a new stake in Imperial Oil during the second quarter worth about $3,064,000. US Bancorp DE boosted its position in shares of Imperial Oil by 91.6% during the 1st quarter. US Bancorp DE now owns 20,210 shares of the energy company’s stock valued at $1,397,000 after acquiring an additional 9,660 shares in the last quarter. Intech Investment Management LLC bought a new stake in Imperial Oil in the first quarter valued at about $720,000. Bessemer Group Inc. raised its position in Imperial Oil by 1,250.9% in the first quarter. Bessemer Group Inc. now owns 7,849 shares of the energy company’s stock worth $542,000 after purchasing an additional 7,268 shares in the last quarter. Finally, Empowered Funds LLC bought a new position in Imperial Oil during the first quarter worth about $931,000. Institutional investors own 20.74% of the company’s stock.

Imperial Oil Price Performance

NYSEAMERICAN IMO opened at $72.77 on Wednesday. The company has a quick ratio of 1.16, a current ratio of 1.40 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $38.81 billion, a PE ratio of 11.41 and a beta of 1.47. Imperial Oil has a 52-week low of $52.97 and a 52-week high of $77.70.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last posted its quarterly earnings results on Friday, August 2nd. The energy company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.11. The business had revenue of $9.78 billion for the quarter, compared to the consensus estimate of $10.50 billion. Imperial Oil had a net margin of 10.05% and a return on equity of 22.73%. Research analysts predict that Imperial Oil will post 6.29 EPS for the current fiscal year.

Imperial Oil Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Wednesday, September 4th will be issued a $0.4336 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Wednesday, September 4th. Imperial Oil’s dividend payout ratio is presently 27.59%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IMO. Raymond James raised Imperial Oil to a “hold” rating in a report on Tuesday, May 28th. Wolfe Research assumed coverage on Imperial Oil in a report on Thursday, July 18th. They set an “outperform” rating and a $108.00 price target on the stock. Scotiabank reduced their price objective on shares of Imperial Oil from $111.00 to $110.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Finally, StockNews.com lowered shares of Imperial Oil from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $99.50.

About Imperial Oil

Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment transports and refines crude oil, blends refined products, and distributes and markets of refined products.