Shares of Imperial Oil Limited (NYSEAMERICAN:IMO – Get Rating) (TSE:IMO) saw unusually-high trading volume on Friday . Approximately 30,948 shares changed hands during trading, a decline of 95% from the previous session’s volume of 608,772 shares.The stock last traded at $42.28 and had previously closed at $45.06.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on the company. Royal Bank of Canada lowered their price objective on Imperial Oil from C$85.00 to C$84.00 in a research report on Tuesday, August 9th. TD Securities cut shares of Imperial Oil from a “buy” rating to a “hold” rating in a research report on Tuesday, August 16th. Scotiabank boosted their target price on shares of Imperial Oil from C$72.00 to C$80.00 in a report on Wednesday, June 8th. Desjardins downgraded Imperial Oil from a “buy” rating to a “hold” rating in a research note on Wednesday, July 27th. Finally, National Bank Financial decreased their target price on Imperial Oil from C$93.00 to C$86.00 in a research note on Monday, July 18th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $65.55.
Imperial Oil Stock Performance
The company has a market cap of $26.80 billion, a P/E ratio of 64.74, a PEG ratio of 0.31 and a beta of 1.70. The company has a current ratio of 1.32, a quick ratio of 1.09 and a debt-to-equity ratio of 0.24.
Imperial Oil Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Friday, September 2nd will be given a dividend of $0.2645 per share. The ex-dividend date is Thursday, September 1st. This represents a $1.06 dividend on an annualized basis and a yield of 2.49%. Imperial Oil’s dividend payout ratio (DPR) is presently 160.00%.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the company. Ritholtz Wealth Management lifted its stake in Imperial Oil by 56.6% during the 1st quarter. Ritholtz Wealth Management now owns 18,044 shares of the energy company’s stock valued at $872,000 after acquiring an additional 6,522 shares during the period. Metis Global Partners LLC acquired a new stake in Imperial Oil during the 1st quarter worth about $430,000. Radnor Capital Management LLC purchased a new position in shares of Imperial Oil during the 1st quarter valued at about $215,000. Hillsdale Investment Management Inc. lifted its holdings in shares of Imperial Oil by 104.5% in the 1st quarter. Hillsdale Investment Management Inc. now owns 553,510 shares of the energy company’s stock valued at $26,770,000 after buying an additional 282,910 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of Imperial Oil by 4.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 12,332 shares of the energy company’s stock worth $596,000 after buying an additional 520 shares during the last quarter. 20.97% 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 for, and produces crude oil, natural gas, synthetic oil, and bitumen. As of December 31, 2021, this segment had 386 million oil-equivalent barrels of proved undeveloped reserves.
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