Analysts Set Imperial Oil Limited (NYSEAMERICAN:IMO) Price Target at $106.33

Shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Get Free Report) TSE: IMO have earned a consensus rating of "Hold" from the six ratings firms that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $106.33.

IMO has been the subject of a number of research analyst reports. Royal Bank of Canada reissued a "sector perform" rating and issued a $101.00 target price on shares of Imperial Oil in a report on Thursday, April 3rd. Scotiabank raised Imperial Oil to a "hold" rating in a report on Wednesday, March 19th. The Goldman Sachs Group lowered Imperial Oil from a "neutral" rating to a "sell" rating in a report on Thursday, March 27th. Wolfe Research raised Imperial Oil from a "peer perform" rating to an "outperform" rating in a report on Monday, April 21st. Finally, Raymond James reaffirmed an "outperform" rating on shares of Imperial Oil in a report on Monday, May 5th.

Institutional Investors Weigh In On Imperial Oil

A number of hedge funds have recently made changes to their positions in the company. FMR LLC lifted its position in shares of Imperial Oil by 16.9% in the fourth quarter. FMR LLC now owns 43,162,088 shares of the energy company's stock worth $2,659,965,000 after buying an additional 6,228,461 shares in the last quarter. TD Asset Management Inc raised its position in Imperial Oil by 1.0% during the first quarter. TD Asset Management Inc now owns 4,873,843 shares of the energy company's stock valued at $352,014,000 after purchasing an additional 47,898 shares during the period. TD Asset Management Inc. raised its position in Imperial Oil by 2.2% during the fourth quarter. TD Asset Management Inc. now owns 4,825,945 shares of the energy company's stock valued at $297,268,000 after purchasing an additional 105,970 shares during the period. Goldman Sachs Group Inc. raised its position in Imperial Oil by 395.8% during the first quarter. Goldman Sachs Group Inc. now owns 4,546,520 shares of the energy company's stock valued at $328,804,000 after purchasing an additional 3,629,568 shares during the period. Finally, Bank of America Corp DE raised its position in Imperial Oil by 1.1% during the fourth quarter. Bank of America Corp DE now owns 2,398,899 shares of the energy company's stock valued at $147,772,000 after purchasing an additional 26,891 shares during the period. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

Imperial Oil Stock Up 0.2%

Shares of Imperial Oil stock traded up $0.12 on Friday, reaching $72.05. The company's stock had a trading volume of 254,992 shares, compared to its average volume of 450,245. The company has a market capitalization of $36.68 billion, a price-to-earnings ratio of 10.93 and a beta of 1.44. The firm's fifty day simple moving average is $68.33 and its two-hundred day simple moving average is $69.85. Imperial Oil has a 52 week low of $58.76 and a 52 week high of $80.17. The company has a quick ratio of 1.23, a current ratio of 1.34 and a debt-to-equity ratio of 0.17.

Imperial Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Wednesday, June 4th will be paid a $0.523 dividend. This is a positive change from Imperial Oil's previous quarterly dividend of $0.50. The ex-dividend date is Wednesday, June 4th. This represents a $2.09 dividend on an annualized basis and a dividend yield of 2.90%. Imperial Oil's dividend payout ratio is 25.80%.

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.