Brokerages Set Imperial Oil Limited (NYSEAMERICAN:IMO) Price Target at $116.00

Shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) have received a consensus rating of “Strong Sell” from the nine research firms that are currently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $116.00.

A number of research firms have recently weighed in on IMO. Imperial Capital reiterated a “sell” rating on shares of Imperial Oil in a research report on Tuesday. Zacks Research downgraded shares of Imperial Oil from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Finally, TD Securities restated a “sell” rating on shares of Imperial Oil in a research report on Wednesday, May 13th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Compound Planning Inc. raised its position in Imperial Oil by 3.5% during the first quarter. Compound Planning Inc. now owns 2,597 shares of the energy company’s stock valued at $340,000 after purchasing an additional 88 shares in the last quarter. D.A. Davidson & CO. raised its position in Imperial Oil by 1.6% during the first quarter. D.A. Davidson & CO. now owns 5,913 shares of the energy company’s stock valued at $774,000 after purchasing an additional 91 shares in the last quarter. Ensign Peak Advisors Inc raised its position in Imperial Oil by 1.0% during the fourth quarter. Ensign Peak Advisors Inc now owns 9,924 shares of the energy company’s stock valued at $858,000 after purchasing an additional 100 shares in the last quarter. Smartleaf Asset Management LLC raised its position in Imperial Oil by 23.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 531 shares of the energy company’s stock valued at $46,000 after purchasing an additional 101 shares in the last quarter. Finally, Baron Wealth Management LLC raised its position in Imperial Oil by 3.2% during the first quarter. Baron Wealth Management LLC now owns 4,030 shares of the energy company’s stock valued at $527,000 after purchasing an additional 124 shares in the last quarter. 20.74% of the stock is currently owned by institutional investors and hedge funds.

Imperial Oil Stock Down 1.9%

NYSEAMERICAN IMO opened at $112.50 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.02 and a debt-to-equity ratio of 0.17. Imperial Oil has a 1-year low of $78.03 and a 1-year high of $139.44. The company has a 50 day moving average of $125.29 and a 200-day moving average of $114.41. The company has a market cap of $54.40 billion, a price-to-earnings ratio of 26.53 and a beta of 0.43.

Imperial Oil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Thursday, June 4th will be given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 3.1%. The ex-dividend date is Thursday, June 4th. Imperial Oil’s payout ratio is currently 38.24%.

About Imperial Oil

Imperial Oil (NYSEAMERICAN: IMO) is a Canadian integrated energy company involved in the exploration, production, refining and marketing of petroleum and petrochemical products. Headquartered in Calgary, Alberta, Imperial has operated in Canada for well over a century and is one of the country’s long-standing energy firms. The company is majority-owned by Exxon Mobil Corporation, which provides strategic and technical links to global upstream and downstream capabilities.

Imperial’s operations span upstream activities—exploration and production of crude oil, natural gas and oil-sands resources—and downstream operations including refining, manufacturing of fuels and lubricants, petrochemical products, and retail distribution.