Imperial Oil Ltd (IMO) Short Interest Up 5.0% in December

Imperial Oil Ltd (NYSEAMERICAN:IMO) (TSE:IMO) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 8,420,556 shares, an increase of 5.0% from the December 14th total of 8,019,654 shares. Based on an average daily trading volume, of 391,948 shares, the short-interest ratio is presently 21.5 days.

Imperial Oil stock opened at $26.65 on Friday. Imperial Oil has a 52 week low of $24.29 and a 52 week high of $34.56.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last issued its earnings results on Friday, November 2nd. The energy company reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.08. The firm had revenue of $9.73 billion for the quarter, compared to analysts’ expectations of $10.67 billion. The firm’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.44 EPS.

Institutional investors and hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC lifted its position in shares of Imperial Oil by 2.3% during the 3rd quarter. Janus Henderson Group PLC now owns 76,710 shares of the energy company’s stock worth $2,488,000 after buying an additional 1,750 shares during the period. US Bancorp DE grew its stake in shares of Imperial Oil by 20.0% during the second quarter. US Bancorp DE now owns 10,781 shares of the energy company’s stock worth $358,000 after purchasing an additional 1,794 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its stake in shares of Imperial Oil by 0.4% during the third quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 769,600 shares of the energy company’s stock worth $32,169,000 after purchasing an additional 2,700 shares during the period. Crossmark Global Holdings Inc. grew its stake in shares of Imperial Oil by 11.5% during the third quarter. Crossmark Global Holdings Inc. now owns 38,033 shares of the energy company’s stock worth $1,231,000 after purchasing an additional 3,933 shares during the period. Finally, Highstreet Asset Management Inc. lifted its holdings in Imperial Oil by 16.8% during the third quarter. Highstreet Asset Management Inc. now owns 34,592 shares of the energy company’s stock worth $1,119,000 after acquiring an additional 4,987 shares in the last quarter.

IMO has been the subject of several research reports. BMO Capital Markets restated an “average” rating and set a $48.00 price objective on shares of Imperial Oil in a research note on Thursday, November 8th. TheStreet upgraded shares of Imperial Oil from a “c” rating to a “b-” rating in a research report on Friday, October 5th. GMP Securities raised shares of Imperial Oil from a “hold” rating to a “buy” rating in a report on Thursday, November 8th. Goldman Sachs Group raised shares of Imperial Oil from a “sell” rating to a “buy” rating in a report on Friday, October 19th. Finally, Canaccord Genuity raised shares of Imperial Oil from a “hold” rating to a “buy” rating in a research report on Tuesday, October 16th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $43.20.

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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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