Imperial Oil Limited (NYSEAMERICAN:IMO) Receives $116.00 Consensus Price Target from Brokerages

Shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) have earned a consensus rating of “Strong Sell” from the eleven analysts that are presently covering the stock, Marketbeat reports. Six research analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $116.00.

A number of brokerages recently commented on IMO. BMO Capital Markets lowered Imperial Oil from an “outperform” rating to a “market perform” rating in a report on Monday, December 15th. TD Securities restated a “sell” rating on shares of Imperial Oil in a research note on Monday, February 23rd. Royal Bank Of Canada lowered Imperial Oil from a “sector perform” rating to an “underperform” rating and set a $116.00 target price for the company. in a research report on Monday, February 23rd. Finally, Raymond James Financial cut Imperial Oil from a “hold” rating to a “strong sell” rating in a research note on Monday, December 8th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MAI Capital Management raised its position in shares of Imperial Oil by 2,776.1% in the third quarter. MAI Capital Management now owns 10,929 shares of the energy company’s stock valued at $992,000 after purchasing an additional 10,549 shares during the period. Envestnet Asset Management Inc. grew its stake in Imperial Oil by 13.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 84,287 shares of the energy company’s stock valued at $7,648,000 after buying an additional 10,299 shares in the last quarter. Argent Trust Co purchased a new position in Imperial Oil in the 3rd quarter valued at approximately $2,308,000. Scotia Capital Inc. raised its holdings in Imperial Oil by 3.5% during the 2nd quarter. Scotia Capital Inc. now owns 233,736 shares of the energy company’s stock valued at $18,456,000 after acquiring an additional 7,940 shares during the period. Finally, Westerkirk Capital Inc. bought a new stake in Imperial Oil during the 2nd quarter valued at $852,000. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

Imperial Oil Trading Down 0.9%

Shares of IMO stock opened at $120.41 on Thursday. The company has a market cap of $58.23 billion, a P/E ratio of 26.29 and a beta of 0.66. The stock has a 50 day simple moving average of $108.80 and a two-hundred day simple moving average of $97.27. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.94 and a current ratio of 1.27. Imperial Oil has a fifty-two week low of $58.76 and a fifty-two week high of $123.52.

Imperial Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Thursday, March 5th will be issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.9%. This is a boost from Imperial Oil’s previous quarterly dividend of $0.72. The ex-dividend date is Thursday, March 5th. Imperial Oil’s dividend payout ratio is 38.69%.

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.