Imperial Oil (NYSEAMERICAN:IMO) Upgraded at Desjardins

Desjardins upgraded shares of Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) to a hold rating in a report published on Thursday,Zacks.com reports.

Several other research firms have also commented on IMO. TD Securities restated a “sell” rating on shares of Imperial Oil in a research note on Wednesday, May 13th. Imperial Capital reiterated a “sell” rating on shares of Imperial Oil in a research report on Tuesday, June 23rd. Zacks Research upgraded Imperial Oil from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Finally, Scotiabank reissued a “sector perform” rating on shares of Imperial Oil in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $116.00.

Imperial Oil Price Performance

Imperial Oil stock opened at $122.52 on Thursday. Imperial Oil has a 12 month low of $81.66 and a 12 month high of $139.44. The company has a market cap of $59.25 billion, a price-to-earnings ratio of 28.90 and a beta of 0.45. The company has a current ratio of 1.23, a quick ratio of 1.02 and a debt-to-equity ratio of 0.17. The business’s 50 day simple moving average is $122.01 and its 200 day simple moving average is $117.70.

Imperial Oil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Thursday, June 4th were given 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 dividend payout ratio is presently 38.24%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. AQR Capital Management LLC raised its holdings in Imperial Oil by 5.0% during the first quarter. AQR Capital Management LLC now owns 34,218 shares of the energy company’s stock valued at $2,475,000 after acquiring an additional 1,627 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Imperial Oil by 54.7% in the first quarter. NewEdge Advisors LLC now owns 11,887 shares of the energy company’s stock worth $860,000 after acquiring an additional 4,201 shares during the period. Focus Partners Wealth purchased a new stake in shares of Imperial Oil during the first quarter worth about $200,000. Cetera Investment Advisers grew its position in shares of Imperial Oil by 6.8% during the second quarter. Cetera Investment Advisers now owns 4,569 shares of the energy company’s stock worth $363,000 after purchasing an additional 291 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Imperial Oil by 4.7% during the second quarter. Invesco Ltd. now owns 354,865 shares of the energy company’s stock worth $28,205,000 after purchasing an additional 15,834 shares in the last quarter. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Imperial Oil Company Profile

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.