Imperial Oil (NYSEAMERICAN:IMO) Receives “Sector Perform” Rating from Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) in a research note released on Thursday morning,Benzinga reports. Royal Bank of Canada currently has a $101.00 price target on the energy company’s stock.

IMO has been the subject of a number of other research reports. JPMorgan Chase & Co. lowered shares of Imperial Oil from a “neutral” rating to an “underweight” rating in a research report on Thursday, December 19th. Scotiabank raised shares of Imperial Oil to a “hold” rating in a research note on Wednesday, March 19th. The Goldman Sachs Group cut shares of Imperial Oil from a “neutral” rating to a “sell” rating in a research report on Thursday, March 27th. Finally, Wolfe Research lowered Imperial Oil from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $106.33.

Imperial Oil Stock Performance

Shares of NYSEAMERICAN IMO opened at $63.47 on Thursday. The firm has a 50 day moving average price of $69.57. Imperial Oil has a 52 week low of $60.95 and a 52 week high of $80.17. The company has a market cap of $32.31 billion, a PE ratio of 9.63 and a beta of 1.44. The company has a current ratio of 1.34, a quick ratio of 1.23 and a debt-to-equity ratio of 0.17.

Imperial Oil Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 5th were given a $0.4972 dividend. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.43. This represents a $1.99 annualized dividend and a dividend yield of 3.13%. The ex-dividend date was Wednesday, March 5th. Imperial Oil’s dividend payout ratio (DPR) is currently 25.80%.

Hedge Funds Weigh In On Imperial Oil

Several institutional investors have recently modified their holdings of IMO. BNP Paribas Financial Markets acquired a new position in shares of Imperial Oil in the 3rd quarter valued at $28,000. Holocene Advisors LP bought a new stake in Imperial Oil in the 3rd quarter valued at $5,332,000. Integrated Wealth Concepts LLC boosted its stake in Imperial Oil by 4.5% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 9,640 shares of the energy company’s stock worth $679,000 after purchasing an additional 416 shares during the period. Stifel Financial Corp boosted its stake in Imperial Oil by 1.6% in the 3rd quarter. Stifel Financial Corp now owns 100,050 shares of the energy company’s stock worth $7,049,000 after purchasing an additional 1,543 shares during the period. Finally, Wellington Management Group LLP increased its holdings in Imperial Oil by 104.0% during the 3rd quarter. Wellington Management Group LLP now owns 60,736 shares of the energy company’s stock worth $4,278,000 after purchasing an additional 30,965 shares in the last quarter. 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.