Imperial Oil Limited (NYSEAMERICAN:IMO) Receives Average Rating of “Reduce” from Analysts

Shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) have been given an average rating of “Reduce” by the six research firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $106.33.

A number of analysts have commented on IMO shares. Wolfe Research downgraded Imperial Oil from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. The Goldman Sachs Group cut shares of Imperial Oil from a “neutral” rating to a “sell” rating in a research report on Thursday, March 27th. Royal Bank of Canada reissued a “sector perform” rating and set a $101.00 price objective on shares of Imperial Oil in a research note on Thursday, April 3rd. Scotiabank upgraded Imperial Oil to a “hold” rating in a report on Wednesday, March 19th. Finally, Raymond James upgraded Imperial Oil from a “market perform” rating to an “outperform” rating in a research report on Wednesday, April 9th.

Imperial Oil Price Performance

Imperial Oil stock opened at $63.70 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.23 and a current ratio of 1.34. Imperial Oil has a one year low of $58.76 and a one year high of $80.17. The company has a market cap of $32.43 billion, a P/E ratio of 9.67 and a beta of 1.44. The business has a fifty day moving average of $67.83 and a two-hundred day moving average of $69.82.

Imperial Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.4972 per share. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.43. This represents a $1.99 annualized dividend and a dividend yield of 3.12%. The ex-dividend date was Wednesday, March 5th. Imperial Oil’s dividend payout ratio is presently 25.80%.

Institutional Investors Weigh In On Imperial Oil

Institutional investors have recently added to or reduced their stakes in the company. Clarius Group LLC increased its holdings in Imperial Oil by 28.8% in the 1st quarter. Clarius Group LLC now owns 6,576 shares of the energy company’s stock valued at $476,000 after purchasing an additional 1,472 shares in the last quarter. Ritholtz Wealth Management boosted its holdings in Imperial Oil by 13.9% in the 1st quarter. Ritholtz Wealth Management now owns 65,247 shares of the energy company’s stock worth $4,719,000 after acquiring an additional 7,958 shares during the period. Azzad Asset Management Inc. ADV acquired a new stake in Imperial Oil in the first quarter valued at approximately $5,095,000. Assenagon Asset Management S.A. raised its stake in shares of Imperial Oil by 1.5% during the first quarter. Assenagon Asset Management S.A. now owns 34,851 shares of the energy company’s stock valued at $2,517,000 after purchasing an additional 499 shares during the period. Finally, Yousif Capital Management LLC acquired a new position in shares of Imperial Oil during the first quarter worth $226,000. Hedge funds and other institutional investors own 20.74% of the company’s stock.

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.