Imperial Oil (NYSEAMERICAN:IMO) Stock Rating Lowered by Wolfe Research

Wolfe Research lowered shares of Imperial Oil (NYSEAMERICAN:IMO - Free Report) TSE: IMO from an outperform rating to a peer perform rating in a research note published on Wednesday morning, MarketBeat reports.

A number of other brokerages also recently weighed in on IMO. Raymond James Financial downgraded shares of Imperial Oil from a "moderate buy" rating to a "hold" rating in a research report on Thursday, July 3rd. The Goldman Sachs Group downgraded Imperial Oil from a "neutral" rating to a "sell" rating in a research note on Thursday, March 27th. Desjardins downgraded shares of Imperial Oil from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 3rd. Finally, Royal Bank Of Canada reissued a "sector perform" rating and set a $101.00 price objective on shares of Imperial Oil in a report on Thursday, April 3rd. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, Imperial Oil presently has an average rating of "Hold" and a consensus target price of $105.50.

Imperial Oil Trading Down 0.5%

NYSEAMERICAN:IMO traded down $0.41 during midday trading on Wednesday, reaching $83.68. 220,573 shares of the stock traded hands, compared to its average volume of 463,137. The company has a fifty day moving average of $77.99 and a 200 day moving average of $71.06. Imperial Oil has a 12 month low of $58.76 and a 12 month high of $85.02. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.22 and a current ratio of 1.48. The stock has a market capitalization of $42.60 billion, a P/E ratio of 12.51 and a beta of 0.89.

Imperial Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Wednesday, June 4th were issued a $0.523 dividend. The ex-dividend date was Wednesday, June 4th. This is a boost from Imperial Oil's previous quarterly dividend of $0.50. This represents a $2.09 dividend on an annualized basis and a yield of 2.50%. Imperial Oil's dividend payout ratio is currently 31.87%.

Hedge Funds Weigh In On Imperial Oil

Several hedge funds have recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC boosted its position in shares of Imperial Oil by 12.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 21,304 shares of the energy company's stock worth $1,693,000 after acquiring an additional 2,410 shares in the last quarter. PDS Planning Inc acquired a new stake in Imperial Oil during the 2nd quarter worth $237,000. Blue Trust Inc. raised its stake in Imperial Oil by 10.8% during the 2nd quarter. Blue Trust Inc. now owns 13,622 shares of the energy company's stock worth $1,083,000 after acquiring an additional 1,327 shares in the last quarter. Callan Family Office LLC acquired a new stake in Imperial Oil during the 2nd quarter worth $538,000. Finally, Maryland State Retirement & Pension System raised its stake in Imperial Oil by 12.6% during the 2nd quarter. Maryland State Retirement & Pension System now owns 67,867 shares of the energy company's stock worth $5,400,000 after acquiring an additional 7,595 shares in the last quarter. Institutional investors and hedge funds 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.