Imperial Oil (NYSEAMERICAN:IMO) Lowered to Hold at StockNews.com

StockNews.com lowered shares of Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) from a buy rating to a hold rating in a research report report published on Tuesday morning.

A number of other research analysts have also recently commented on the company. Raymond James raised Imperial Oil to a hold rating in a research note on Tuesday, May 28th. Wolfe Research assumed coverage on Imperial Oil in a research note on Thursday, July 18th. They issued an outperform rating and a $108.00 target price on the stock. Finally, Scotiabank lowered their target price on shares of Imperial Oil from $111.00 to $110.00 and set a sector outperform rating for the company in a research note on Friday, July 12th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $94.80.

Imperial Oil Stock Up 1.1 %

IMO stock opened at $76.63 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.34 and a quick ratio of 1.04. Imperial Oil has a 12 month low of $52.97 and a 12 month high of $77.32. The stock has a market cap of $41.06 billion, a P/E ratio of 12.01 and a beta of 1.47.

Imperial Oil Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.4336 per share. This represents a $1.73 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Wednesday, September 4th. Imperial Oil’s payout ratio is 27.59%.

Hedge Funds Weigh In On Imperial Oil

A number of large investors have recently bought and sold shares of IMO. RFP Financial Group LLC purchased a new position in shares of Imperial Oil in the 2nd quarter valued at $25,000. Hexagon Capital Partners LLC grew its stake in Imperial Oil by 84.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 493 shares of the energy company’s stock worth $34,000 after buying an additional 225 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Imperial Oil during the fourth quarter valued at about $44,000. Assetmark Inc. increased its stake in Imperial Oil by 938.5% during the 4th quarter. Assetmark Inc. now owns 810 shares of the energy company’s stock valued at $46,000 after purchasing an additional 732 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Imperial Oil in the 1st quarter valued at $46,000. Institutional investors own 20.74% of the company’s stock.

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.