Analysts Set Imperial Oil Limited (NYSEAMERICAN:IMO) PT at $109.00

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) has been given an average rating of “Reduce” by the five brokerages that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $109.00.

Several equities analysts recently commented on IMO shares. JPMorgan Chase & Co. lowered shares of Imperial Oil from a “neutral” rating to an “underweight” rating in a research report on Thursday, December 19th. Wolfe Research lowered shares of Imperial Oil from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. The Goldman Sachs Group downgraded shares of Imperial Oil from a “neutral” rating to a “sell” rating in a research note on Thursday, March 27th. Finally, Scotiabank raised Imperial Oil to a “hold” rating in a research report on Wednesday, March 19th.

Institutional Investors Weigh In On Imperial Oil

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IMO. FMR LLC increased its holdings in shares of Imperial Oil by 16.9% during the 4th quarter. FMR LLC now owns 43,162,088 shares of the energy company’s stock valued at $2,659,965,000 after purchasing an additional 6,228,461 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Imperial Oil during the fourth quarter valued at $19,507,000. Geode Capital Management LLC raised its position in shares of Imperial Oil by 29.0% in the fourth quarter. Geode Capital Management LLC now owns 1,086,840 shares of the energy company’s stock worth $67,634,000 after acquiring an additional 244,176 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Imperial Oil by 29.0% during the 4th quarter. JPMorgan Chase & Co. now owns 945,002 shares of the energy company’s stock worth $58,212,000 after acquiring an additional 212,707 shares in the last quarter. Finally, Point72 Europe London LLP grew its position in shares of Imperial Oil by 131.2% during the 3rd quarter. Point72 Europe London LLP now owns 356,972 shares of the energy company’s stock valued at $25,134,000 after acquiring an additional 202,590 shares during the period. 20.74% of the stock is owned by institutional investors and hedge funds.

Imperial Oil Price Performance

Shares of NYSEAMERICAN:IMO opened at $73.53 on Thursday. The company’s 50-day simple moving average is $69.67. The company has a quick ratio of 1.23, a current ratio of 1.34 and a debt-to-equity ratio of 0.17. Imperial Oil has a 1 year low of $60.95 and a 1 year high of $80.17. The firm has a market cap of $37.43 billion, a price-to-earnings ratio of 11.16 and a beta of 1.44.

Imperial Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 5th were issued a $0.4972 dividend. This is an increase from Imperial Oil’s previous quarterly dividend of $0.43. This represents a $1.99 annualized dividend and a dividend yield of 2.70%. The ex-dividend date was Wednesday, March 5th. Imperial Oil’s dividend payout ratio is 25.80%.

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.