Imperial Oil (NYSEAMERICAN:IMO) Upgraded at Zacks Research

Zacks Research upgraded shares of Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) from a hold rating to a strong-buy rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

A number of other research analysts have also recently commented on the stock. TD Securities reissued a “sell” rating on shares of Imperial Oil in a research report on Wednesday, May 13th. Scotiabank raised shares of Imperial Oil to a “hold” rating in a report on Friday, June 26th. Finally, Imperial Capital reaffirmed a “sell” rating on shares of Imperial Oil in a research note on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $116.00.

Imperial Oil Stock Performance

Imperial Oil stock opened at $122.52 on Wednesday. The firm has a market capitalization of $59.25 billion, a PE ratio of 28.90 and a beta of 0.45. Imperial Oil has a one year low of $81.66 and a one year high of $139.44. The stock’s 50 day moving average price is $122.01 and its 200 day moving average price is $117.70. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.02 and a current ratio of 1.23.

Imperial Oil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Thursday, June 4th were paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Thursday, June 4th. Imperial Oil’s payout ratio is 38.24%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in IMO. CoreCap Advisors LLC grew its holdings in Imperial Oil by 20.5% during the 2nd quarter. CoreCap Advisors LLC now owns 954 shares of the energy company’s stock worth $107,000 after acquiring an additional 162 shares in the last quarter. Eastern Bank grew its stake in Imperial Oil by 100.0% in the second quarter. Eastern Bank now owns 1,000 shares of the energy company’s stock worth $112,000 after purchasing an additional 500 shares in the last quarter. Rathbones Group PLC grew its stake in Imperial Oil by 3.9% in the first quarter. Rathbones Group PLC now owns 6,734 shares of the energy company’s stock worth $879,000 after purchasing an additional 251 shares in the last quarter. Parallel Advisors LLC increased its holdings in Imperial Oil by 4.8% in the first quarter. Parallel Advisors LLC now owns 6,814 shares of the energy company’s stock valued at $892,000 after buying an additional 311 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings in Imperial Oil by 2.4% in the first quarter. NewEdge Advisors LLC now owns 13,066 shares of the energy company’s stock valued at $1,709,000 after buying an additional 308 shares during the last quarter. 20.74% of the stock is currently owned by institutional investors.

About Imperial Oil

Imperial Oil (NYSEAMERICAN: IMO) is a Canadian integrated energy company involved in the exploration, production, refining and marketing of petroleum and petrochemical products. Headquartered in Calgary, Alberta, Imperial has operated in Canada for well over a century and is one of the country’s long-standing energy firms. The company is majority-owned by Exxon Mobil Corporation, which provides strategic and technical links to global upstream and downstream capabilities.

Imperial’s operations span upstream activities—exploration and production of crude oil, natural gas and oil-sands resources—and downstream operations including refining, manufacturing of fuels and lubricants, petrochemical products, and retail distribution.