Imperial Oil (NYSEAMERICAN:IMO) Sees Unusually-High Trading Volume - Still a Buy?

Key Points

• Imperial Oil's trading volume surged by 144% to 1,075,570 shares, with the stock currently priced at $85.52, down from a previous close of $86.28.
• Recent analyst ratings for Imperial Oil show a mix of downgrades and one buy rating, leading to an average rating of "Reduce" with a price target of $115.00.
• The company announced a quarterly dividend increase to $0.72 per share, reflecting a yield of 3.3% and a payout ratio of 31.87%.

Shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Get Free Report) TSE: IMO saw an uptick in trading volume on Tuesday . 1,075,570 shares changed hands during mid-day trading, an increase of 144% from the previous session's volume of 441,393 shares.The stock last traded at $85.52 and had previously closed at $86.28.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on IMO. Raymond James Financial downgraded Imperial Oil from a "moderate buy" rating to a "hold" rating in a report on Thursday, July 3rd. Cibc World Mkts downgraded shares of Imperial Oil from a "hold" rating to a "strong sell" rating in a report on Tuesday, October 14th. BMO Capital Markets reiterated an "outperform" rating on shares of Imperial Oil in a report on Monday, August 4th. Wolfe Research downgraded shares of Imperial Oil from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, July 23rd. Finally, TD Securities cut shares of Imperial Oil from a "hold" rating to a "sell" rating in a research report on Tuesday, September 30th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $115.00.

Imperial Oil Price Performance

The firm has a market cap of $43.23 billion, a PE ratio of 13.27 and a beta of 0.83. The company has a quick ratio of 1.34, a current ratio of 1.58 and a debt-to-equity ratio of 0.16. The stock has a 50 day moving average price of $88.95 and a two-hundred day moving average price of $79.89.

Imperial Oil Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Thursday, September 4th were given a $0.72 dividend. This is an increase from Imperial Oil's previous quarterly dividend of $0.52. This represents a $2.88 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Thursday, September 4th. Imperial Oil's payout ratio is currently 31.87%.

Institutional Investors Weigh In On Imperial Oil

Large investors have recently bought and sold shares of the company. IFG Advisory LLC boosted its position in Imperial Oil by 0.4% in the 2nd quarter. IFG Advisory LLC now owns 32,359 shares of the energy company's stock worth $2,572,000 after purchasing an additional 136 shares in the last quarter. Gold Investment Management Ltd. boosted its position in Imperial Oil by 0.6% in the 1st quarter. Gold Investment Management Ltd. now owns 28,082 shares of the energy company's stock worth $2,029,000 after purchasing an additional 178 shares in the last quarter. Ballentine Partners LLC boosted its position in Imperial Oil by 4.9% in the 2nd quarter. Ballentine Partners LLC now owns 3,971 shares of the energy company's stock worth $316,000 after purchasing an additional 184 shares in the last quarter. NewEdge Advisors LLC boosted its position in Imperial Oil by 1.5% in the 2nd quarter. NewEdge Advisors LLC now owns 12,071 shares of the energy company's stock worth $959,000 after purchasing an additional 184 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Imperial Oil by 9.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,472 shares of the energy company's stock worth $196,000 after purchasing an additional 206 shares in the last quarter. Hedge funds and other institutional investors own 20.74% of the company's stock.

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.

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