Imperial Oil (NYSEAMERICAN:IMO) Cut to “Strong Sell” at Cibc World Mkts

Cibc World Mkts downgraded shares of Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) from a hold rating to a strong sell rating in a research report released on Tuesday morning,Zacks.com reports.

A number of other analysts have also recently weighed in on IMO. Tudor Pickering cut shares of Imperial Oil from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 25th. Royal Bank Of Canada boosted their target price on shares of Imperial Oil from $108.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 25th. Wolfe Research cut shares of Imperial Oil from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, July 23rd. TD Securities cut shares of Imperial Oil from a “hold” rating to a “sell” rating in a research note on Tuesday, September 30th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Imperial Oil in a research note on Monday, August 4th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $115.00.

Imperial Oil Stock Down 1.5%

Shares of IMO opened at $84.68 on Tuesday. The firm has a 50 day simple moving average of $88.90 and a two-hundred day simple moving average of $79.53. The company has a market cap of $42.50 billion, a P/E ratio of 13.05 and a beta of 0.83. Imperial Oil has a one year low of $58.76 and a one year high of $96.09. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.58 and a quick ratio of 1.34.

Imperial Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Thursday, September 4th were issued a $0.72 dividend. The ex-dividend date was Thursday, September 4th. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.52. This represents a $2.88 dividend on an annualized basis and a yield of 3.4%. Imperial Oil’s dividend payout ratio (DPR) is currently 31.87%.

Institutional Trading of Imperial Oil

Large investors have recently bought and sold shares of the business. Wayfinding Financial LLC acquired a new stake in Imperial Oil during the 1st quarter worth about $26,000. IMG Wealth Management Inc. acquired a new stake in Imperial Oil during the 2nd quarter worth about $28,000. MAI Capital Management grew its holdings in Imperial Oil by 2,275.0% during the 2nd quarter. MAI Capital Management now owns 380 shares of the energy company’s stock worth $30,000 after acquiring an additional 364 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Imperial Oil by 88.5% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the energy company’s stock worth $39,000 after acquiring an additional 255 shares during the period. Finally, Continuum Advisory LLC acquired a new stake in Imperial Oil during the 1st quarter worth about $71,000. 20.74% of the stock is currently owned by institutional investors and hedge funds.

Imperial Oil Company Profile

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.