Imperial Oil (NYSEAMERICAN:IMO) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

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

Imperial Oil Stock Up 1.4 %

Shares of IMO opened at $65.47 on Tuesday. 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 company has a market cap of $35.08 billion, a P/E ratio of 10.26 and a beta of 1.45. Imperial Oil has a 12 month low of $47.90 and a 12 month high of $74.58.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last released its 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. Imperial Oil had a return on equity of 20.76% and a net margin of 9.46%. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $11.61 billion. Research analysts predict that Imperial Oil will post 6.18 earnings per share for the current year.

Imperial Oil Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.4377 per share. This represents a $1.75 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Monday, June 3rd. Imperial Oil’s dividend payout ratio (DPR) is currently 27.59%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. AdvisorNet Financial Inc increased its holdings in Imperial Oil by 52.6% during the 4th quarter. AdvisorNet Financial Inc now owns 522 shares of the energy company’s stock valued at $30,000 after purchasing an additional 180 shares during the period. Hexagon Capital Partners LLC grew its holdings in shares of Imperial Oil by 84.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 493 shares of the energy company’s stock worth $34,000 after acquiring an additional 225 shares during the period. Jones Financial Companies Lllp purchased a new position in shares of Imperial Oil during the 4th quarter worth approximately $44,000. Assetmark Inc. grew its holdings in shares of Imperial Oil by 938.5% during the 4th quarter. Assetmark Inc. now owns 810 shares of the energy company’s stock worth $46,000 after acquiring an additional 732 shares during the period. Finally, Headlands Technologies LLC purchased a new position in shares of Imperial Oil during the 1st quarter worth approximately $46,000. Hedge funds and other institutional investors 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.