Analysts Set Imperial Oil Limited (NYSEAMERICAN:IMO) PT at $109.00

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) has been given a consensus recommendation of “Reduce” by the five ratings firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $109.00.

A number of equities analysts have recently weighed in on IMO shares. JPMorgan Chase & Co. lowered Imperial Oil from a “neutral” rating to an “underweight” rating in a report on Thursday, December 19th. The Goldman Sachs Group downgraded Imperial Oil from a “neutral” rating to a “sell” rating in a research note on Thursday, March 27th. Wolfe Research cut Imperial Oil from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Finally, Scotiabank upgraded shares of Imperial Oil to a “hold” rating in a research report on Wednesday, March 19th.

Imperial Oil Stock Up 2.1 %

Shares of NYSEAMERICAN:IMO opened at $72.32 on Thursday. The firm’s 50 day moving average is $69.41. Imperial Oil has a 12-month low of $60.95 and a 12-month high of $80.17. The stock has a market capitalization of $36.81 billion, a PE ratio of 10.97 and a beta of 1.44. 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 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 5th will be given 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 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Wednesday, March 5th. Imperial Oil’s payout ratio is 25.80%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Winch Advisory Services LLC purchased a new position in shares of Imperial Oil in the 4th quarter worth about $26,000. BNP Paribas Financial Markets purchased a new stake in Imperial Oil in the third quarter worth approximately $28,000. Wingate Wealth Advisors Inc. bought a new position in Imperial Oil during the fourth quarter valued at approximately $41,000. Group One Trading LLC raised its stake in shares of Imperial Oil by 29.7% during the fourth quarter. Group One Trading LLC now owns 755 shares of the energy company’s stock worth $47,000 after acquiring an additional 173 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of Imperial Oil by 21.0% in the 4th quarter. Allworth Financial LP now owns 1,630 shares of the energy company’s stock worth $100,000 after acquiring an additional 283 shares during the last quarter. Hedge funds and other institutional investors own 20.74% of the company’s stock.

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.