Imperial Oil Limited (NYSEAMERICAN:IMO) Receives Average Recommendation of "Reduce" from Analysts

Imperial Oil Limited (NYSEAMERICAN:IMO - Get Free Report) TSE: IMO has been assigned a consensus rating of "Reduce" from the seven brokerages that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $106.33.

Several equities research analysts have recently weighed in on IMO shares. Desjardins downgraded Imperial Oil from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 3rd. Wolfe Research upgraded Imperial Oil from a "peer perform" rating to an "outperform" rating in a report on Monday, April 21st. The Goldman Sachs Group downgraded Imperial Oil from a "neutral" rating to a "sell" rating in a report on Thursday, March 27th. Royal Bank Of Canada restated a "sector perform" rating and set a $101.00 price objective on shares of Imperial Oil in a report on Thursday, April 3rd. Finally, Scotiabank upgraded Imperial Oil to a "hold" rating in a report on Wednesday, March 19th.

Imperial Oil Trading Up 0.6%

Shares of IMO stock opened at $81.43 on Friday. Imperial Oil has a 1 year low of $58.76 and a 1 year high of $82.85. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.48 and a quick ratio of 1.22. The stock's 50 day simple moving average is $74.59 and its two-hundred day simple moving average is $70.44. The company has a market cap of $41.45 billion, a PE ratio of 12.17 and a beta of 0.89.

Imperial Oil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Wednesday, June 4th were issued a $0.523 dividend. This is a boost from Imperial Oil's previous quarterly dividend of $0.50. The ex-dividend date was Wednesday, June 4th. This represents a $2.09 dividend on an annualized basis and a yield of 2.57%. Imperial Oil's dividend payout ratio is presently 31.87%.

Hedge Funds Weigh In On Imperial Oil

Large investors have recently bought and sold shares of the business. Intech Investment Management LLC increased its stake in Imperial Oil by 16.0% during the 1st quarter. Intech Investment Management LLC now owns 50,069 shares of the energy company's stock worth $3,616,000 after buying an additional 6,890 shares in the last quarter. Focus Partners Wealth purchased a new stake in Imperial Oil during the 1st quarter worth approximately $200,000. Ashton Thomas Private Wealth LLC increased its stake in Imperial Oil by 12.4% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 47,552 shares of the energy company's stock worth $3,463,000 after buying an additional 5,231 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Imperial Oil by 395.8% in 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 in the last quarter. Finally, NewEdge Advisors LLC grew its position in shares of Imperial Oil by 54.7% in the first quarter. NewEdge Advisors LLC now owns 11,887 shares of the energy company's stock valued at $860,000 after purchasing an additional 4,201 shares in the last quarter. Institutional investors and hedge funds own 20.74% of the company's stock.

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.

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