Imperial Oil (NYSEAMERICAN:IMO) Downgraded by Wolfe Research to Peer Perform

Wolfe Research downgraded shares of Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) from an outperform rating to a peer perform rating in a report released on Friday, MarketBeat Ratings reports.

IMO has been the topic of several other research reports. Scotiabank reaffirmed a “sector perform” rating and set a $110.00 price target on shares of Imperial Oil in a research report on Wednesday, September 25th. JPMorgan Chase & Co. lowered Imperial Oil from a “neutral” rating to an “underweight” rating in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat.com, Imperial Oil presently has an average rating of “Hold” and an average target price of $109.00.

Imperial Oil Price Performance

Shares of IMO opened at $62.41 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.44 and a debt-to-equity ratio of 0.17. Imperial Oil has a 12-month low of $54.58 and a 12-month high of $80.17. The stock has a market capitalization of $31.99 billion, a P/E ratio of 9.30 and a beta of 1.42.

Imperial Oil Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Tuesday, December 3rd were paid a dividend of $0.4304 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date was Tuesday, December 3rd. Imperial Oil’s dividend payout ratio (DPR) is 26.38%.

Hedge Funds Weigh In On Imperial Oil

A number of hedge funds and other institutional investors have recently bought and sold shares of IMO. Principal Financial Group Inc. boosted its position in Imperial Oil by 29.6% in the 2nd quarter. Principal Financial Group Inc. now owns 17,542 shares of the energy company’s stock valued at $1,196,000 after buying an additional 4,002 shares during the period. Caprock Group LLC purchased a new position in Imperial Oil in the second quarter valued at $530,000. Triasima Portfolio Management inc. grew its stake in Imperial Oil by 18.7% during the 2nd quarter. Triasima Portfolio Management inc. now owns 379,050 shares of the energy company’s stock worth $25,833,000 after purchasing an additional 59,750 shares in the last quarter. Royal London Asset Management Ltd. increased its holdings in Imperial Oil by 710.5% during the 2nd quarter. Royal London Asset Management Ltd. now owns 91,485 shares of the energy company’s stock worth $6,244,000 after purchasing an additional 80,197 shares during the period. Finally, SIR Capital Management L.P. acquired a new stake in Imperial Oil in the 2nd quarter valued at about $11,405,000. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

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.