Imperial Oil (NYSEAMERICAN:IMO) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) from a buy rating to a hold rating in a report published on Monday.

Separately, Raymond James upgraded Imperial Oil to a hold rating in a research report on Tuesday, May 28th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $85.33.

Imperial Oil Stock Performance

Shares of NYSEAMERICAN IMO opened at $69.64 on Monday. Imperial Oil has a 12 month low of $48.26 and a 12 month high of $74.58. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.34 and a quick ratio of 1.04. The firm has a market capitalization of $37.32 billion, a price-to-earnings ratio of 10.95 and a beta of 1.47.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last released its quarterly earnings results on Friday, April 26th. The energy company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.10. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $11.61 billion. Imperial Oil had a net margin of 9.46% and a return on equity of 20.76%. As a group, analysts predict that Imperial Oil will post 6.29 earnings per share for the current fiscal year.

Imperial Oil Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were issued a dividend of $0.4377 per share. The ex-dividend date was Monday, June 3rd. This represents a $1.75 annualized dividend and a dividend yield of 2.51%. Imperial Oil’s payout ratio is 27.59%.

Institutional Investors Weigh In On Imperial Oil

Hedge funds have recently added to or reduced their stakes in the stock. AdvisorNet Financial Inc raised its position in shares of Imperial Oil by 52.6% in the 4th quarter. AdvisorNet Financial Inc now owns 522 shares of the energy company’s stock worth $30,000 after purchasing an additional 180 shares during the last quarter. Hexagon Capital Partners LLC raised its holdings in Imperial Oil by 84.0% in the first 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. EverSource Wealth Advisors LLC lifted its stake in shares of Imperial Oil by 8.8% in the first quarter. EverSource Wealth Advisors LLC now owns 3,145 shares of the energy company’s stock worth $216,000 after buying an additional 255 shares in the last quarter. Clarius Group LLC lifted its stake in shares of Imperial Oil by 6.0% in the fourth quarter. Clarius Group LLC now owns 7,104 shares of the energy company’s stock worth $406,000 after buying an additional 402 shares in the last quarter. Finally, Natixis Advisors L.P. grew its holdings in shares of Imperial Oil by 3.3% during the fourth quarter. Natixis Advisors L.P. now owns 12,894 shares of the energy company’s stock valued at $737,000 after buying an additional 409 shares during the last quarter. 20.74% of the stock is owned by institutional investors.

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.