Imperial Oil (NYSEAMERICAN:IMO) Announces Earnings Results, Beats Expectations By $0.08 EPS

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) released its quarterly earnings results on Friday, November 2nd. The energy company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08, Morningstar.com reports. The firm had revenue of $9.73 billion for the quarter, compared to the consensus estimate of $10.67 billion. During the same period in the previous year, the business earned $0.44 earnings per share. The firm’s revenue for the quarter was up 36.0% on a year-over-year basis.

Imperial Oil stock traded down $0.68 during mid-day trading on Friday, reaching $31.05. 249,022 shares of the company traded hands, compared to its average volume of 340,618. Imperial Oil has a 52-week low of $25.91 and a 52-week high of $34.56.

IMO has been the topic of several research reports. TD Securities reaffirmed a “hold” rating on shares of Imperial Oil in a research report on Thursday. Royal Bank of Canada reaffirmed a “hold” rating on shares of Imperial Oil in a research report on Thursday. CIBC reiterated a “sell” rating on shares of Imperial Oil in a research note on Thursday. BMO Capital Markets reiterated an “average” rating and issued a $48.00 target price on shares of Imperial Oil in a research note on Thursday. Finally, TheStreet upgraded shares of Imperial Oil from a “c” rating to a “b-” rating in a research note on Friday, October 5th. Three analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. Imperial Oil has a consensus rating of “Hold” and an average price target of $45.25.

Several large investors have recently added to or reduced their stakes in IMO. Toronto Dominion Bank grew its position in Imperial Oil by 78.8% during the 2nd quarter. Toronto Dominion Bank now owns 1,558,572 shares of the energy company’s stock valued at $52,534,000 after purchasing an additional 686,675 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Imperial Oil by 69.2% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,372,800 shares of the energy company’s stock valued at $45,605,000 after purchasing an additional 561,400 shares during the last quarter. Legal & General Group Plc grew its position in Imperial Oil by 6.9% during the 2nd quarter. Legal & General Group Plc now owns 1,171,883 shares of the energy company’s stock valued at $38,930,000 after purchasing an additional 75,395 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Imperial Oil by 26.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,019,745 shares of the energy company’s stock valued at $33,907,000 after purchasing an additional 215,434 shares during the last quarter. Finally, Fiera Capital Corp grew its position in Imperial Oil by 7.0% during the 2nd quarter. Fiera Capital Corp now owns 939,531 shares of the energy company’s stock valued at $31,234,000 after purchasing an additional 61,760 shares during the last quarter.

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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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Earnings History for Imperial Oil (NYSEAMERICAN:IMO)

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