AltaCorp Capital downgraded shares of Imperial Oil Ltd (NYSEMKT:IMO) (TSE:IMO) from a sector perform rating to an underperform rating in a report released on Wednesday morning.

Several other research analysts also recently commented on IMO. ValuEngine raised shares of Imperial Oil from a sell rating to a hold rating in a research note on Thursday, May 11th. Zacks Investment Research raised shares of Imperial Oil from a hold rating to a strong-buy rating and set a $33.00 price target on the stock in a research note on Tuesday, May 16th. CIBC downgraded shares of Imperial Oil from a sector outperform rating to a sector perform rating in a research note on Tuesday, May 23rd. BidaskClub raised shares of Imperial Oil from a strong sell rating to a sell rating in a research note on Tuesday, June 13th. Finally, National Bank Financial initiated coverage on shares of Imperial Oil in a research note on Tuesday, June 27th. They issued a sector perform rating on the stock. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $46.38.

Imperial Oil (NYSEMKT IMO) opened at 29.26 on Wednesday. The stock’s 50 day moving average is $28.98 and its 200-day moving average is $29.75. Imperial Oil has a 52-week low of $27.59 and a 52-week high of $36.85. The company has a market cap of $24.70 billion, a PE ratio of 11.68 and a beta of 1.14.

Imperial Oil (NYSEMKT:IMO) (TSE:IMO) last released its earnings results on Friday, July 28th. The energy company reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.30. The firm had revenue of $7.03 billion during the quarter, compared to the consensus estimate of $8.40 billion. Imperial Oil had a negative return on equity of 1.23% and a negative net margin of 1.10%. Imperial Oil’s revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.21) EPS. Equities research analysts predict that Imperial Oil will post $0.96 EPS for the current fiscal year.

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The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 1st will be given a dividend of $0.1279 per share. This is an increase from Imperial Oil’s previous quarterly dividend of $0.12. The ex-dividend date is Wednesday, August 30th. This represents a $0.51 dividend on an annualized basis and a yield of 1.75%. Imperial Oil’s dividend payout ratio (DPR) is 170.37%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Candriam Luxembourg S.C.A. increased its position in Imperial Oil by 10.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 37,265 shares of the energy company’s stock worth $1,132,000 after buying an additional 3,649 shares during the period. Korea Investment CORP increased its position in Imperial Oil by 558.7% in the first quarter. Korea Investment CORP now owns 230,559 shares of the energy company’s stock worth $7,005,000 after buying an additional 195,559 shares during the period. Acadian Asset Management LLC increased its position in Imperial Oil by 356.8% in the first quarter. Acadian Asset Management LLC now owns 50,700 shares of the energy company’s stock worth $1,539,000 after buying an additional 39,600 shares during the period. Shell Asset Management Co. increased its position in Imperial Oil by 6.5% in the first quarter. Shell Asset Management Co. now owns 83,993 shares of the energy company’s stock worth $3,403,000 after buying an additional 5,149 shares during the period. Finally, Wetherby Asset Management Inc. increased its position in Imperial Oil by 17.7% in the first quarter. Wetherby Asset Management Inc. now owns 8,043 shares of the energy company’s stock worth $245,000 after buying an additional 1,209 shares during the period.

About Imperial Oil

Imperial Oil Limited is an integrated oil company. The Company is engaged in all the phases of the petroleum industry in Canada, including exploration for, and production and sale of, crude oil and natural gas. Its operations are conducted in three segments: Upstream, Downstream and Chemical. The Upstream operations include the exploration for, and production of, crude oil, natural gas, synthetic oil and bitumen.

Analyst Recommendations for Imperial Oil (NYSEMKT:IMO)

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