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

Wolfe Research cut shares of Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) from an outperform rating to a peer perform rating in a report published on Friday, MarketBeat reports.

IMO has been the subject of a number of other research reports. Scotiabank reaffirmed a “sector perform” rating and set a $110.00 price target on shares of Imperial Oil in a report on Wednesday, September 25th. JPMorgan Chase & Co. cut Imperial Oil from a “neutral” rating to an “underweight” rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $109.00.

Imperial Oil Stock Performance

IMO stock opened at $62.41 on Friday. Imperial Oil has a 52 week low of $54.58 and a 52 week high of $80.17. The stock has a market capitalization of $31.99 billion, a P/E ratio of 9.30 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Tuesday, December 3rd were issued a dividend of $0.4304 per share. The ex-dividend date 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 26.38%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets bought a new position in shares of Imperial Oil in the third quarter valued at approximately $28,000. Grove Bank & Trust boosted its position in shares of Imperial Oil by 438.0% during the 3rd quarter. Grove Bank & Trust now owns 538 shares of the energy company’s stock valued at $38,000 after acquiring an additional 438 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Imperial Oil by 21.0% during the third quarter. Allworth Financial LP now owns 1,347 shares of the energy company’s stock worth $95,000 after purchasing an additional 234 shares in the last quarter. Oakworth Capital Inc. bought a new position in shares of Imperial Oil in the third quarter worth approximately $101,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Imperial Oil during the third quarter valued at approximately $137,000. Hedge funds and other 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.