Shares of Imperial Oil Limited (NYSEAMERICAN:IMO – Get Free Report) (TSE:IMO) have received a consensus rating of “Strong Sell” from the nine brokerages that are covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $116.00.
Several research analysts have issued reports on IMO shares. Desjardins upgraded Imperial Oil to a “hold” rating in a report on Thursday, July 16th. Zacks Research downgraded Imperial Oil from a “strong-buy” rating to a “hold” rating in a report on Thursday. TD Securities reaffirmed a “sell” rating on shares of Imperial Oil in a research report on Wednesday, August 5th. Imperial Capital reiterated a “sell” rating on shares of Imperial Oil in a report on Tuesday, June 23rd. Finally, Scotiabank restated a “sector perform” rating on shares of Imperial Oil in a research note on Friday, July 17th.
Get Our Latest Stock Analysis on IMO
Imperial Oil Stock Performance
Imperial Oil Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be given a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, September 4th. Imperial Oil’s dividend payout ratio is presently 38.24%.
Institutional Investors Weigh In On Imperial Oil
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new position in shares of Imperial Oil in the 2nd quarter worth approximately $24,051,000. CoreCap Advisors LLC boosted its position in Imperial Oil by 20.5% in the second quarter. CoreCap Advisors LLC now owns 954 shares of the energy company’s stock worth $107,000 after purchasing an additional 162 shares during the last quarter. Eastern Bank grew its stake in Imperial Oil by 100.0% in the 2nd quarter. Eastern Bank now owns 1,000 shares of the energy company’s stock valued at $112,000 after purchasing an additional 500 shares during the period. Rathbones Group PLC increased its position in shares of Imperial Oil by 3.9% during the 1st quarter. Rathbones Group PLC now owns 6,734 shares of the energy company’s stock valued at $879,000 after purchasing an additional 251 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in shares of Imperial Oil by 4.8% during the 1st quarter. Parallel Advisors LLC now owns 6,814 shares of the energy company’s stock valued at $892,000 after purchasing an additional 311 shares during the last quarter. Hedge funds and other institutional investors own 20.74% of the company’s stock.
About Imperial Oil
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.
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