Imperial Oil (NYSEAMERICAN:IMO) Sees Large Volume Increase – Still a Buy?

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) shares saw unusually-strong trading volume on Monday . Approximately 4,067,985 shares changed hands during trading, an increase of 892% from the previous session’s volume of 409,979 shares.The stock last traded at $73.17 and had previously closed at $73.92.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on IMO. Scotiabank reaffirmed a “sector perform” rating and set a $110.00 target price on shares of Imperial Oil in a report on Wednesday, September 25th. StockNews.com downgraded shares of Imperial Oil from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $109.00.

Imperial Oil Stock Down 1.3 %

The company has a market cap of $37.73 billion, a PE ratio of 10.86 and a beta of 1.42. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.23 and a current ratio of 1.44.

Imperial Oil Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Tuesday, December 3rd will be paid a $0.4304 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.72 annualized dividend and a dividend yield of 2.36%. Imperial Oil’s payout ratio is 26.53%.

Institutional Investors Weigh In On Imperial Oil

Several hedge funds have recently made changes to their positions in IMO. Mercer Global Advisors Inc. ADV boosted its stake in Imperial Oil by 5.1% during the second quarter. Mercer Global Advisors Inc. ADV now owns 3,266 shares of the energy company’s stock worth $223,000 after buying an additional 158 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Imperial Oil by 5.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,308 shares of the energy company’s stock valued at $237,000 after purchasing an additional 163 shares during the period. Sequoia Financial Advisors LLC raised its holdings in shares of Imperial Oil by 5.0% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 3,753 shares of the energy company’s stock worth $265,000 after buying an additional 178 shares in the last quarter. CWM LLC boosted its stake in Imperial Oil by 8.7% in the 2nd quarter. CWM LLC now owns 2,319 shares of the energy company’s stock valued at $158,000 after buying an additional 185 shares in the last quarter. Finally, OLD National Bancorp IN grew its position in Imperial Oil by 5.6% in the second quarter. OLD National Bancorp IN now owns 3,831 shares of the energy company’s stock valued at $261,000 after acquiring an additional 204 shares during the period. Institutional investors own 20.74% of the company’s stock.

About Imperial Oil

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.