Imperial Oil Limited (NYSEAMERICAN:IMO) Given Average Rating of "Reduce" by Brokerages

Imperial Oil Limited (NYSEAMERICAN:IMO - Get Free Report) TSE: IMO has been given a consensus recommendation of "Reduce" by the seven brokerages that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $106.33.

IMO has been the subject of several research analyst reports. Raymond James reissued an "outperform" rating on shares of Imperial Oil in a report on Monday, May 5th. Royal Bank of Canada reissued a "sector perform" rating and issued a $101.00 price target on shares of Imperial Oil in a report on Thursday, April 3rd. Wolfe Research raised shares of Imperial Oil from a "peer perform" rating to an "outperform" rating in a research note on Monday, April 21st. Desjardins lowered shares of Imperial Oil from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 3rd. Finally, The Goldman Sachs Group lowered shares of Imperial Oil from a "neutral" rating to a "sell" rating in a research note on Thursday, March 27th.

Imperial Oil Trading Up 1.9%

IMO traded up $1.46 during trading on Tuesday, reaching $78.98. 361,136 shares of the company's stock were exchanged, compared to its average volume of 452,246. The company's fifty day moving average price is $68.89 and its 200-day moving average price is $70.03. 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 has a fifty-two week low of $58.76 and a fifty-two week high of $80.17. The firm has a market capitalization of $40.20 billion, a PE ratio of 11.98 and a beta of 1.44.

Imperial Oil Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Wednesday, June 4th will be issued a $0.523 dividend. This represents a $2.09 dividend on an annualized basis and a dividend yield of 2.65%. This is a boost from Imperial Oil's previous quarterly dividend of $0.50. The ex-dividend date is Wednesday, June 4th. Imperial Oil's dividend payout ratio is presently 25.80%.

Institutional Investors Weigh In On Imperial Oil

A number of institutional investors and hedge funds have recently modified their holdings of the company. Janney Montgomery Scott LLC bought a new position in Imperial Oil in the 4th quarter valued at about $351,000. Wingate Wealth Advisors Inc. bought a new position in Imperial Oil in the 4th quarter valued at about $41,000. Blue Trust Inc. raised its holdings in Imperial Oil by 7.3% in the 4th quarter. Blue Trust Inc. now owns 10,468 shares of the energy company's stock valued at $645,000 after acquiring an additional 712 shares during the period. Allworth Financial LP raised its holdings in Imperial Oil by 21.0% in the 4th quarter. Allworth Financial LP now owns 1,630 shares of the energy company's stock valued at $100,000 after acquiring an additional 283 shares during the period. Finally, J. W. Coons Advisors LLC raised its holdings in Imperial Oil by 2.7% in the 4th quarter. J. W. Coons Advisors LLC now owns 12,369 shares of the energy company's stock valued at $762,000 after acquiring an additional 320 shares during the period. 20.74% of the stock is owned by institutional investors.

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.