Imperial Oil Ltd (IMO) Short Interest Update

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Imperial Oil Ltd (NYSEAMERICAN:IMO) (TSE:IMO) saw a large increase in short interest in 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 volume of 391,948 shares, the days-to-cover ratio is presently 21.5 days.

Shares of IMO opened at $26.78 on Friday. Imperial Oil has a twelve month low of $24.29 and a twelve month 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 for the quarter, topping the consensus estimate of $0.67 by $0.08. The firm had revenue of $9.73 billion during the quarter, compared to analysts’ expectations of $10.67 billion. The company’s quarterly revenue was up 36.0% compared to the same quarter last year. During the same period last year, the business posted $0.44 earnings per share.

A number of brokerages have weighed in on IMO. Zacks Investment Research raised Imperial Oil from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Tuesday, October 9th. TheStreet raised Imperial Oil from a “c” rating to a “b-” rating in a research report on Friday, October 5th. CIBC started coverage on Imperial Oil in a research report on Friday, October 5th. They issued a “sector underperform” rating on the stock. Canaccord Genuity raised Imperial Oil from a “hold” rating to a “buy” rating in a research report on Tuesday, October 16th. Finally, Goldman Sachs Group raised Imperial Oil from a “sell” rating to a “buy” rating in a research report on Friday, October 19th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $43.20.

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc raised its position in Imperial Oil by 0.9% in the third quarter. Vanguard Group Inc now owns 7,134,019 shares of the energy company’s stock valued at $230,928,000 after purchasing an additional 66,468 shares during the period. Vanguard Group Inc. raised its position in Imperial Oil by 0.9% in the third quarter. Vanguard Group Inc. now owns 7,134,019 shares of the energy company’s stock valued at $230,928,000 after purchasing an additional 66,468 shares during the period. Nordea Investment Management AB purchased a new position in Imperial Oil in the third quarter valued at about $4,595,000. Neuberger Berman Group LLC raised its position in Imperial Oil by 20.2% in the third quarter. Neuberger Berman Group LLC now owns 34,255 shares of the energy company’s stock valued at $1,109,000 after purchasing an additional 5,767 shares during the period. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its position in Imperial Oil by 0.4% in 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 valued at $32,169,000 after purchasing an additional 2,700 shares during the period.

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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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