Royal Bank of Canada Reiterates “Sector Perform” Rating for Imperial Oil (NYSEAMERICAN:IMO)

Royal Bank of Canada reiterated their sector perform rating on shares of Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a $101.00 target price on the energy company’s stock.

Other equities research analysts have also recently issued reports about the stock. Scotiabank raised shares of Imperial Oil to a “hold” rating in a report on Wednesday, March 19th. The Goldman Sachs Group lowered Imperial Oil from a “neutral” rating to a “sell” rating in a research note on Thursday, March 27th. Wolfe Research downgraded Imperial Oil from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Finally, JPMorgan Chase & Co. cut Imperial Oil from a “neutral” rating to an “underweight” rating in a research note on Thursday, December 19th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $106.33.

Imperial Oil Stock Down 6.7 %

Shares of Imperial Oil stock opened at $68.59 on Thursday. The company has a market cap of $34.92 billion, a PE ratio of 10.41 and a beta of 1.44. The company has a current ratio of 1.34, a quick ratio of 1.23 and a debt-to-equity ratio of 0.17. Imperial Oil has a 12-month low of $60.95 and a 12-month high of $80.17. The business’s 50 day moving average is $69.67.

Imperial Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 5th were issued a $0.4972 dividend. This represents a $1.99 dividend on an annualized basis and a yield of 2.90%. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.43. The ex-dividend date was Wednesday, March 5th. Imperial Oil’s dividend payout ratio is currently 25.80%.

Institutional Trading of Imperial Oil

Hedge funds and other institutional investors have recently bought and sold shares of the business. Winch Advisory Services LLC acquired 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 worth $28,000. Wingate Wealth Advisors Inc. acquired a new position in Imperial Oil in the fourth quarter valued at about $41,000. Group One Trading LLC lifted its position in Imperial Oil by 29.7% during the fourth quarter. Group One Trading LLC now owns 755 shares of the energy company’s stock worth $47,000 after purchasing an additional 173 shares during the period. Finally, Allworth Financial LP grew its stake in Imperial Oil by 21.0% during the fourth quarter. Allworth Financial LP now owns 1,630 shares of the energy company’s stock worth $100,000 after buying an additional 283 shares in the last quarter. Institutional investors and hedge funds 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.