Imperial Oil Limited (NYSEAMERICAN:IMO) Receives Consensus Recommendation of “Reduce” from Brokerages

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) has received an average rating of “Reduce” from the twelve ratings firms that are covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $115.00.

A number of equities research analysts have recently issued reports on the stock. Wolfe Research downgraded shares of Imperial Oil from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, July 23rd. BMO Capital Markets reiterated an “outperform” rating on shares of Imperial Oil in a research report on Monday, August 4th. Royal Bank Of Canada lifted their price objective on Imperial Oil from $108.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 25th. TD Securities downgraded Imperial Oil from a “hold” rating to a “sell” rating in a research report on Tuesday, September 30th. Finally, Zacks Research downgraded Imperial Oil from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd.

Imperial Oil Price Performance

IMO stock opened at $85.04 on Monday. The firm has a 50 day moving average of $88.89 and a 200-day moving average of $79.61. Imperial Oil has a 12-month low of $58.76 and a 12-month high of $96.09. The company has a current ratio of 1.58, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16. The company has a market cap of $42.68 billion, a price-to-earnings ratio of 13.10 and a beta of 0.83.

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 paid a dividend of $0.72 per share. The ex-dividend date of this dividend was Thursday, September 4th. This is an increase from Imperial Oil’s previous quarterly dividend of $0.52. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.4%. Imperial Oil’s dividend payout ratio is 31.87%.

Institutional Trading of Imperial Oil

A number of large investors have recently made changes to their positions in IMO. GAMMA Investing LLC grew its stake in Imperial Oil by 7,136.4% in the 1st quarter. GAMMA Investing LLC now owns 796 shares of the energy company’s stock worth $580,000 after acquiring an additional 785 shares during the period. Yousif Capital Management LLC purchased a new stake in Imperial Oil in the 1st quarter worth approximately $226,000. Assenagon Asset Management S.A. grew its stake in Imperial Oil by 1.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 34,851 shares of the energy company’s stock worth $2,517,000 after acquiring an additional 499 shares during the period. Ritholtz Wealth Management grew its stake 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. Finally, Clarius Group LLC grew its stake in Imperial Oil by 28.8% in the 1st quarter. Clarius Group LLC now owns 6,576 shares of the energy company’s stock worth $476,000 after acquiring an additional 1,472 shares during the period. Institutional investors and hedge funds 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.