Imperial Oil (NYSEAMERICAN:IMO) Stock Price Down 4.6% – Time to Sell?

Imperial Oil Limited (NYSEAMERICAN:IMOGet Free Report) (TSE:IMO) shares fell 4.6% on Tuesday . The stock traded as low as $74.41 and last traded at $74.60. 75,260 shares were traded during mid-day trading, a decline of 81% from the average session volume of 395,552 shares. The stock had previously closed at $78.19.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Wolfe Research initiated coverage on shares of Imperial Oil in a report on Thursday, July 18th. They issued an “outperform” rating and a $108.00 target price on the stock. StockNews.com downgraded shares of Imperial Oil from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Finally, Scotiabank restated a “sector perform” rating and set a $110.00 price objective on shares of Imperial Oil in a research report on Wednesday, September 25th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $99.50.

View Our Latest Report on Imperial Oil

Imperial Oil Price Performance

The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.16 and a current ratio of 1.40. The stock has a market cap of $39.89 billion, a PE ratio of 11.09 and a beta of 1.44.

Imperial Oil (NYSEAMERICAN:IMOGet Free Report) (TSE:IMO) last issued its earnings results on Friday, August 2nd. The energy company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.11. Imperial Oil had a return on equity of 22.73% and a net margin of 10.05%. The business had revenue of $9.78 billion during the quarter, compared to analysts’ expectations of $10.50 billion. As a group, equities research analysts anticipate that Imperial Oil Limited will post 6.2 earnings per share for the current year.

Imperial Oil Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Wednesday, September 4th were issued a dividend of $0.4336 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.73 dividend on an annualized basis and a yield of 2.30%. Imperial Oil’s dividend payout ratio is currently 25.21%.

Institutional Investors Weigh In On Imperial Oil

A number of institutional investors have recently added to or reduced their stakes in IMO. TD Asset Management Inc boosted its stake in Imperial Oil by 12.2% in the second quarter. TD Asset Management Inc now owns 3,796,660 shares of the energy company’s stock valued at $258,817,000 after acquiring an additional 412,600 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Imperial Oil by 10,896.4% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 867,174 shares of the energy company’s stock worth $59,135,000 after purchasing an additional 859,288 shares in the last quarter. Toronto Dominion Bank grew its stake in Imperial Oil by 14.7% during the 2nd quarter. Toronto Dominion Bank now owns 822,478 shares of the energy company’s stock worth $56,134,000 after buying an additional 105,205 shares during the last quarter. Capital World Investors increased its position in Imperial Oil by 134.0% during the 1st quarter. Capital World Investors now owns 747,929 shares of the energy company’s stock valued at $51,588,000 after buying an additional 428,252 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new stake in Imperial Oil in the second quarter valued at about $40,729,000. Institutional investors own 20.74% of the company’s stock.

About Imperial Oil

(Get Free Report)

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.

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