Imperial Oil Limited (IMO) to Issue Quarterly Dividend of $0.45 on April 1st

Imperial Oil Limited (NYSEAMERICAN:IMOGet Free Report) (TSE:IMO) declared a quarterly dividend on Monday, February 5th, Wall Street Journal reports. Investors of record on Monday, March 4th will be given a dividend of 0.4473 per share by the energy company on Monday, April 1st. This represents a $1.79 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Friday, March 1st. This is an increase from Imperial Oil’s previous quarterly dividend of $0.36.

Imperial Oil has increased its dividend payment by an average of 29.2% per year over the last three years. Imperial Oil has a dividend payout ratio of 21.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Imperial Oil to earn $5.87 per share next year, which means the company should continue to be able to cover its $1.47 annual dividend with an expected future payout ratio of 25.0%.

Imperial Oil Stock Performance

Shares of IMO stock opened at $57.54 on Wednesday. Imperial Oil has a 52-week low of $44.22 and a 52-week high of $63.07. The firm has a market capitalization of $30.83 billion, a PE ratio of 8.94 and a beta of 1.47. The company has a quick ratio of 1.16, a current ratio of 1.38 and a debt-to-equity ratio of 0.17.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SNC acquired a new position in Imperial Oil during the third quarter valued at approximately $35,000. Northwestern Mutual Wealth Management Co. grew its holdings in Imperial Oil by 229.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,724 shares of the energy company’s stock valued at $84,000 after purchasing an additional 1,200 shares during the period. State of Wyoming grew its holdings in Imperial Oil by 21.7% during the second quarter. State of Wyoming now owns 2,900 shares of the energy company’s stock valued at $148,000 after purchasing an additional 517 shares during the period. Captrust Financial Advisors acquired a new position in Imperial Oil during the fourth quarter valued at approximately $207,000. Finally, Engineers Gate Manager LP acquired a new position in Imperial Oil during the third quarter valued at approximately $212,000. Institutional investors own 20.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on IMO shares. Royal Bank of Canada increased their target price on shares of Imperial Oil from $80.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 7th. The Goldman Sachs Group cut shares of Imperial Oil from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 8th. JPMorgan Chase & Co. upgraded shares of Imperial Oil from an “underweight” rating to a “neutral” rating in a research report on Friday, December 8th. Finally, StockNews.com cut shares of Imperial Oil from a “buy” rating to a “hold” rating in a research report on Monday, November 6th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Imperial Oil currently has an average rating of “Hold” and a consensus price target of $85.33.

View Our Latest Stock Analysis on Imperial Oil

Imperial Oil Company Profile

(Get Free Report)

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 for, and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment is involved in the transportation and refining of crude oil, blending of refined products, and the distribution and marketing of refined products.

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Dividend History for Imperial Oil (NYSEAMERICAN:IMO)

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