Imperial Oil Limited (NYSEAMERICAN:IMO) Receives $116.00 Consensus Target Price from Brokerages

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) has been given a consensus rating of “Strong Sell” by the eleven ratings firms that are covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $116.00.

A number of equities research analysts have issued reports on IMO shares. BMO Capital Markets lowered Imperial Oil from an “outperform” rating to a “market perform” rating in a research note on Monday, December 15th. Royal Bank Of Canada lowered Imperial Oil from a “sector perform” rating to an “underperform” rating and set a $116.00 price objective for the company. in a research note on Monday, February 23rd. TD Securities reiterated a “sell” rating on shares of Imperial Oil in a research report on Monday, February 23rd. Finally, Raymond James Financial downgraded Imperial Oil from a “hold” rating to a “strong sell” rating in a research note on Monday, December 8th.

Imperial Oil Price Performance

Shares of NYSEAMERICAN:IMO opened at $123.30 on Thursday. The company has a market capitalization of $59.63 billion, a P/E ratio of 26.92 and a beta of 0.66. Imperial Oil has a 1-year low of $58.76 and a 1-year high of $124.00. The firm’s 50 day simple moving average is $109.51 and its two-hundred day simple moving average is $97.56. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.27 and a quick ratio of 0.94.

Imperial Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Thursday, March 5th will be issued a dividend of $0.87 per share. This is an increase from Imperial Oil’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $3.48 dividend on an annualized basis and a yield of 2.8%. Imperial Oil’s payout ratio is 38.69%.

Hedge Funds Weigh In On Imperial Oil

Several hedge funds have recently modified their holdings of the stock. Root Financial Partners LLC grew its stake in Imperial Oil by 87.8% during the fourth quarter. Root Financial Partners LLC now owns 293 shares of the energy company’s stock valued at $25,000 after acquiring an additional 137 shares in the last quarter. McMillan Office Inc. purchased a new stake in Imperial Oil in the 4th quarter worth $26,000. MAI Capital Management boosted its holdings in shares of Imperial Oil by 2,275.0% during the 2nd quarter. MAI Capital Management now owns 380 shares of the energy company’s stock valued at $30,000 after purchasing an additional 364 shares during the last quarter. Westside Investment Management Inc. boosted its holdings in shares of Imperial Oil by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 426 shares of the energy company’s stock valued at $38,000 after purchasing an additional 213 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of Imperial Oil by 64.8% during the third quarter. Smartleaf Asset Management LLC now owns 430 shares of the energy company’s stock valued at $40,000 after purchasing an additional 169 shares in the last quarter. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Imperial Oil Company Profile

Imperial Oil (NYSEAMERICAN: IMO) is a Canadian integrated energy company involved in the exploration, production, refining and marketing of petroleum and petrochemical products. Headquartered in Calgary, Alberta, Imperial has operated in Canada for well over a century and is one of the country’s long-standing energy firms. The company is majority-owned by Exxon Mobil Corporation, which provides strategic and technical links to global upstream and downstream capabilities.

Imperial’s operations span upstream activities—exploration and production of crude oil, natural gas and oil-sands resources—and downstream operations including refining, manufacturing of fuels and lubricants, petrochemical products, and retail distribution.