Imperial Oil Limited (NYSEAMERICAN:IMO) Receives $106.33 Consensus PT from Analysts

Shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) have been assigned an average recommendation of “Hold” from the six brokerages that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $106.33.

A number of brokerages have weighed in on IMO. Royal Bank of Canada reissued a “sector perform” rating and set a $101.00 target price on shares of Imperial Oil in a report on Thursday, April 3rd. Wolfe Research upgraded shares of Imperial Oil from a “peer perform” rating to an “outperform” rating in a research note on Monday, April 21st. Scotiabank upgraded Imperial Oil to a “hold” rating in a research note on Wednesday, March 19th. Raymond James reaffirmed an “outperform” rating on shares of Imperial Oil in a report on Monday, May 5th. Finally, The Goldman Sachs Group downgraded Imperial Oil from a “neutral” rating to a “sell” rating in a report on Thursday, March 27th.

Imperial Oil Stock Performance

IMO stock opened at $72.50 on Friday. The stock’s 50 day simple moving average is $68.04 and its 200 day simple moving average is $69.81. Imperial Oil has a 12-month low of $58.76 and a 12-month high of $80.17. The firm has a market cap of $36.91 billion, a P/E ratio of 11.00 and a beta of 1.44. The company has a current ratio of 1.34, a quick ratio of 1.23 and a debt-to-equity ratio of 0.17.

Imperial Oil Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Wednesday, June 4th will be paid a dividend of $0.523 per share. This represents a $2.09 dividend on an annualized basis and a yield of 2.89%. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.50. The ex-dividend date is Wednesday, June 4th. Imperial Oil’s payout ratio is presently 25.80%.

Institutional Investors Weigh In On Imperial Oil

Several large investors have recently made changes to their positions in IMO. FMR LLC raised its position in shares of Imperial Oil by 16.9% during the 4th 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 increased its stake in shares of 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 acquiring an additional 47,898 shares during the period. TD Asset Management Inc. raised its holdings 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 worth $297,268,000 after purchasing an additional 105,970 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in 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 worth $328,804,000 after purchasing an additional 3,629,568 shares during the period. Finally, Bank of America Corp DE lifted its position in Imperial Oil by 1.1% in the fourth quarter. Bank of America Corp DE now owns 2,398,899 shares of the energy company’s stock worth $147,772,000 after purchasing an additional 26,891 shares during the period. 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.