Imperial Oil Limited (NYSEAMERICAN:IMO) Receives $109.00 Consensus Target Price from Analysts

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) has earned an average recommendation of “Reduce” from the five ratings firms that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $109.00.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of IMO. Geode Capital Management LLC lifted its holdings in Imperial Oil by 9.1% in the third quarter. Geode Capital Management LLC now owns 842,664 shares of the energy company’s stock valued at $59,502,000 after acquiring an additional 70,357 shares during the last quarter. Mediolanum International Funds Ltd lifted its stake in shares of Imperial Oil by 42.8% in the 4th quarter. Mediolanum International Funds Ltd now owns 14,364 shares of the energy company’s stock valued at $874,000 after purchasing an additional 4,308 shares during the last quarter. Bridgewater Associates LP grew its holdings in shares of Imperial Oil by 522.8% during the 3rd quarter. Bridgewater Associates LP now owns 201,126 shares of the energy company’s stock worth $14,166,000 after purchasing an additional 168,831 shares during the period. National Bank of Canada FI increased its position in shares of Imperial Oil by 13.3% during the 3rd quarter. National Bank of Canada FI now owns 751,038 shares of the energy company’s stock worth $52,885,000 after purchasing an additional 87,914 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in Imperial Oil in the 3rd quarter valued at about $28,000. Institutional investors and hedge funds own 20.74% of the company’s stock.

Imperial Oil Stock Up 0.9 %

IMO opened at $73.53 on Thursday. The firm’s fifty day moving average is $69.67. Imperial Oil has a 52-week low of $60.95 and a 52-week high of $80.17. The stock has a market capitalization of $37.43 billion, a P/E ratio of 11.16 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 disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Wednesday, March 5th were given a dividend of $0.4972 per share. This is an increase from Imperial Oil’s previous quarterly dividend of $0.43. The ex-dividend date was Wednesday, March 5th. This represents a $1.99 dividend on an annualized basis and a yield of 2.70%. Imperial Oil’s dividend payout ratio (DPR) is presently 25.80%.

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.