Imperial Oil (NYSEAMERICAN:IMO) Upgraded to “Hold” at Desjardins

Desjardins upgraded shares of Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) to a hold rating in a research note published on Thursday,Zacks.com reports.

Other equities analysts have also issued reports about the company. Zacks Research upgraded Imperial Oil from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Imperial Capital reiterated a “sell” rating on shares of Imperial Oil in a report on Tuesday, June 23rd. TD Securities reissued a “sell” rating on shares of Imperial Oil in a report on Wednesday, May 13th. Finally, Scotiabank restated a “sector perform” rating on shares of Imperial Oil in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, Imperial Oil presently has a consensus rating of “Reduce” and a consensus target price of $116.00.

Imperial Oil Price Performance

Shares of NYSEAMERICAN:IMO opened at $122.52 on Thursday. The stock has a market cap of $59.25 billion, a PE ratio of 28.90 and a beta of 0.45. The company’s fifty day moving average is $122.01 and its 200 day moving average is $117.70. Imperial Oil has a 52 week low of $81.66 and a 52 week high of $139.44. The company has a quick ratio of 1.02, a current ratio of 1.23 and a debt-to-equity ratio of 0.17.

Imperial Oil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Thursday, June 4th were paid a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Thursday, June 4th. Imperial Oil’s dividend payout ratio (DPR) is presently 38.24%.

Institutional Trading of Imperial Oil

Several hedge funds and other institutional investors have recently made changes to their positions in IMO. CoreCap Advisors LLC raised its stake in Imperial Oil by 20.5% during the second quarter. CoreCap Advisors LLC now owns 954 shares of the energy company’s stock valued at $107,000 after buying an additional 162 shares during the last quarter. Eastern Bank grew its stake in shares of Imperial Oil by 100.0% in the second quarter. Eastern Bank now owns 1,000 shares of the energy company’s stock worth $112,000 after acquiring an additional 500 shares during the last quarter. Rathbones Group PLC increased its holdings in shares of Imperial Oil by 3.9% during the first quarter. Rathbones Group PLC now owns 6,734 shares of the energy company’s stock valued at $879,000 after acquiring an additional 251 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Imperial Oil by 4.8% during the first quarter. Parallel Advisors LLC now owns 6,814 shares of the energy company’s stock valued at $892,000 after acquiring an additional 311 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of Imperial Oil by 2.4% in the 1st quarter. NewEdge Advisors LLC now owns 13,066 shares of the energy company’s stock worth $1,709,000 after purchasing an additional 308 shares during the last quarter. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Imperial Oil Company Profile

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.