Imperial Oil (NYSEAMERICAN:IMO) Stock Rating Upgraded by Raymond James

Raymond James upgraded shares of Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) from a market perform rating to an outperform rating in a research report released on Wednesday morning, Marketbeat Ratings reports.

A number of other analysts have also recently issued reports on IMO. Royal Bank of Canada reiterated a “sector perform” rating and issued a $101.00 target price on shares of Imperial Oil in a research note on Thursday, April 3rd. Wolfe Research cut shares of Imperial Oil from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. downgraded Imperial Oil from a “neutral” rating to an “underweight” rating in a report on Thursday, December 19th. Scotiabank raised Imperial Oil to a “hold” rating in a research report on Wednesday, March 19th. Finally, The Goldman Sachs Group cut Imperial Oil from a “neutral” rating to a “sell” rating in a research report on Thursday, March 27th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $106.33.

Imperial Oil Stock Down 5.9 %

Shares of IMO traded down $3.83 during midday trading on Wednesday, reaching $60.78. 320,848 shares of the stock were exchanged, compared to its average volume of 440,940. The company has a market cap of $30.94 billion, a price-to-earnings ratio of 9.20 and a beta of 1.44. 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 12-month low of $58.76 and a 12-month high of $80.17. The firm has a 50 day simple moving average of $68.77 and a 200-day simple moving average of $70.12.

Imperial Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.4972 per share. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.43. The ex-dividend date was Wednesday, March 5th. This represents a $1.99 annualized dividend and a dividend yield of 3.27%. Imperial Oil’s dividend payout ratio (DPR) is presently 25.80%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Winch Advisory Services LLC bought a new position in Imperial Oil in the 4th quarter valued at $26,000. BNP Paribas Financial Markets bought a new position in shares of Imperial Oil in the third quarter valued at about $28,000. Wingate Wealth Advisors Inc. acquired a new position in Imperial Oil during the 4th quarter worth about $41,000. Group One Trading LLC increased its position in Imperial Oil by 29.7% in the 4th quarter. Group One Trading LLC now owns 755 shares of the energy company’s stock valued at $47,000 after acquiring an additional 173 shares in the last quarter. Finally, AdvisorNet Financial Inc raised its stake in shares of Imperial Oil by 104.0% in the first quarter. AdvisorNet Financial Inc now owns 1,275 shares of the energy company’s stock worth $92,000 after acquiring an additional 650 shares during the last quarter. 20.74% of the stock is owned by institutional investors and hedge funds.

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.