Imperial Oil Limited (NYSEAMERICAN:IMO) Sees 7.4% Increase in Short Interest

Imperial Oil Limited (NYSEAMERICAN:IMO - Get Free Report) (TSE:IMO) experienced a notable rise in short interest in November. As of November 30th, the total short interest reached 17,680,000 shares, which marks an increase of 7.4% from the 16,460,000 shares reported on November 15th. At present, short sellers hold about 10.1% of the company’s total shares. With an average daily trading volume of 468,900 shares, the days-to-cover ratio now stands at 37.7 days.

Recent Analyst Ratings

Several analysts have recently updated their ratings concerning Imperial Oil. For instance, Scotiabank maintained a "sector perform" rating with a target price of $110.00 for the shares of Imperial Oil in a report dated September 25th. Conversely, StockNews.com downgraded Imperial Oil from a "buy" rating to a "hold" rating on August 28th.

Get Our Latest Research Report on IMO

Imperial Oil Stock Performance

On Tuesday during midday trading, shares of NYSEAMERICAN:IMO saw a decline of 1.5%, dropping by $1.00 to reach $65.43. The trading volume for the day was 43,274 shares, compared to an average volume of 408,751 shares. With a market capitalization of $33.54 billion, the company's price-to-earnings (P/E) ratio is 9.90, and it has a beta value of 1.42. The quick ratio stands at 1.23, while the current ratio is reported at 1.44. The company’s debt-to-equity ratio is at 0.17, and it has recorded a 12-month low of $54.58 alongside a high of $80.17.

Dividend Announcement

Additionally, Imperial Oil has announced a quarterly dividend that will be distributed on January 1st. Shareholders on record as of December 3rd will receive a dividend of $0.4304. The ex-dividend date is also set for December 3rd. This dividend represents an annual yield of 2.63% with a total annualized dividend amount of $1.72. The company currently has a dividend payout ratio (DPR) of 26.38%.

Institutional Investment Activity

Recent trading activity indicates that large investors have been active in buying and selling shares of Imperial Oil. For example, Mercer Global Advisors Inc. ADV increased its stake in Imperial Oil by 5.1% during the second quarter, acquiring an additional 158 shares. Now, Mercer owns a total of 3,266 shares valued at $223,000. Similarly, EverSource Wealth Advisors LLC raised its stake by 5.2%, owning now 3,308 shares worth $237,000. Moreover, Sequoia Financial Advisors LLC enlarged its holdings by 5.0% and CWM LLC raised its position by 8.7% in the same quarter. Institutional investors collectively own about 20.74% of Imperial Oil’s stock.

Company Overview

Imperial Oil Limited is involved in the exploration, production, and sale of crude oil and natural gas within Canada. The business operates through three main segments: Upstream, Downstream, and Chemical. The Upstream segment focuses on exploring and producing crude oil, natural gas, synthetic crude oil, and bitumen. Conversely, the Downstream segment is responsible for the transportation and refining of crude oil and the marketing of refined products.

Conclusion

Overall, while Imperial Oil Limited has seen a rise in short interest and fluctuating stock performance, the company's recent dividend announcements and institutional investment interest reflect ongoing engagement in the markets.

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