Imperial Oil Limited (NYSEAMERICAN:IMO) Receives $109.00 Consensus Target Price from Analysts

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) has received an average rating of “Reduce” from the five analysts that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $109.00.

Several brokerages have issued reports on IMO. Wolfe Research cut shares of Imperial Oil from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. lowered shares of Imperial Oil from a “neutral” rating to an “underweight” rating in a research note on Thursday, December 19th. Scotiabank upgraded shares of Imperial Oil to a “hold” rating in a research report on Wednesday, March 19th. Finally, The Goldman Sachs Group cut Imperial Oil from a “neutral” rating to a “sell” rating in a research report on Thursday.

Imperial Oil Stock Down 2.0 %

NYSEAMERICAN IMO opened at $70.84 on Thursday. Imperial Oil has a 52 week low of $60.95 and a 52 week high of $80.17. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.23 and a current ratio of 1.34. The business’s fifty day moving average is $69.30. The stock has a market cap of $36.06 billion, a price-to-earnings ratio of 10.75 and a beta of 1.44.

Imperial Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Wednesday, March 5th will be issued a dividend of $0.4972 per share. The ex-dividend date is Wednesday, March 5th. This represents a $1.99 dividend on an annualized basis and a yield of 2.81%. This is an increase from Imperial Oil’s previous quarterly dividend of $0.43. Imperial Oil’s payout ratio is currently 25.80%.

Hedge Funds Weigh In On Imperial Oil

Hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in Imperial Oil by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 548,554 shares of the energy company’s stock worth $38,630,000 after acquiring an additional 16,555 shares during the last quarter. Cerity Partners LLC raised its position in shares of Imperial Oil by 95.5% during the 3rd quarter. Cerity Partners LLC now owns 61,659 shares of the energy company’s stock worth $4,344,000 after purchasing an additional 30,127 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in Imperial Oil in the 3rd quarter valued at approximately $28,000. Bridgewater Associates LP lifted its stake in Imperial Oil by 522.8% in the 3rd quarter. Bridgewater Associates LP now owns 201,126 shares of the energy company’s stock valued at $14,166,000 after buying an additional 168,831 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. grew its holdings in Imperial Oil by 1.0% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 207,893 shares of the energy company’s stock valued at $14,627,000 after buying an additional 2,065 shares during the last quarter. 20.74% of the stock is owned by hedge funds and other institutional investors.

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.