Imperial Oil (NYSEAMERICAN:IMO) Rating Lowered to Peer Perform at Wolfe Research

Wolfe Research lowered shares of Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) from an outperform rating to a peer perform rating in a research note issued to investors on Friday, MarketBeat Ratings reports.

A number of other research firms also recently weighed in on IMO. JPMorgan Chase & Co. downgraded Imperial Oil from a “neutral” rating to an “underweight” rating in a report on Thursday, December 19th. Scotiabank reaffirmed a “sector perform” rating and set a $110.00 target price on shares of Imperial Oil in a research note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Imperial Oil presently has an average rating of “Hold” and an average price target of $109.00.

Imperial Oil Trading Down 0.2 %

Imperial Oil stock opened at $62.41 on Friday. Imperial Oil has a 1-year low of $54.58 and a 1-year high of $80.17. The stock has a market cap of $31.99 billion, a PE ratio of 9.30 and a beta of 1.42. The company has a quick ratio of 1.23, a current ratio of 1.44 and a debt-to-equity ratio of 0.17.

Imperial Oil Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Tuesday, December 3rd were paid a $0.4304 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.72 annualized dividend and a dividend yield of 2.76%. Imperial Oil’s dividend payout ratio is presently 26.38%.

Institutional Trading of Imperial Oil

Several institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets bought a new stake in Imperial Oil in the 3rd quarter worth approximately $28,000. Grove Bank & Trust grew its holdings in shares of Imperial Oil by 438.0% in the third quarter. Grove Bank & Trust now owns 538 shares of the energy company’s stock worth $38,000 after acquiring an additional 438 shares during the period. Allworth Financial LP lifted its holdings in Imperial Oil by 21.0% in the third quarter. Allworth Financial LP now owns 1,347 shares of the energy company’s stock valued at $95,000 after acquiring an additional 234 shares during the period. Oakworth Capital Inc. purchased a new stake in shares of Imperial Oil in the 3rd quarter worth $101,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Imperial Oil during the 3rd quarter valued at approximately $137,000. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

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.