Imperial Oil (NYSEAMERICAN:IMO) Downgraded by The Goldman Sachs Group to Sell

The Goldman Sachs Group downgraded shares of Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) from a neutral rating to a sell rating in a research report released on Thursday morning, Marketbeat.com reports.

IMO has been the topic of a number of other research reports. Wolfe Research cut shares of Imperial Oil from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. lowered Imperial Oil from a “neutral” rating to an “underweight” rating in a research report on Thursday, December 19th. Finally, Scotiabank upgraded Imperial Oil to a “hold” rating in a research report on Wednesday, March 19th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $109.00.

Imperial Oil Stock Performance

Shares of Imperial Oil stock opened at $70.84 on Thursday. The business has a 50 day moving average price of $69.30. Imperial Oil has a 52-week low of $60.95 and a 52-week high of $80.17. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.34 and a quick ratio of 1.23. The company has a market capitalization of $36.06 billion, a PE ratio of 10.75 and a beta of 1.44.

Imperial Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.4972 per share. This represents a $1.99 annualized dividend and a yield of 2.81%. This is a boost from Imperial Oil’s previous quarterly dividend of $0.43. The ex-dividend date is Wednesday, March 5th. Imperial Oil’s payout ratio is presently 25.80%.

Hedge Funds Weigh In On Imperial Oil

Institutional investors have recently added to or reduced their stakes in the company. Winch Advisory Services LLC bought a new stake in shares of Imperial Oil in the 4th quarter worth approximately $26,000. BNP Paribas Financial Markets bought a new stake in Imperial Oil in the third quarter worth $28,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Imperial Oil in the fourth quarter worth $41,000. Group One Trading LLC increased its holdings in shares of Imperial Oil by 29.7% during the fourth quarter. Group One Trading LLC now owns 755 shares of the energy company’s stock valued at $47,000 after acquiring an additional 173 shares in the last quarter. Finally, Allworth Financial LP raised its position in shares of Imperial Oil by 21.0% in the 4th quarter. Allworth Financial LP now owns 1,630 shares of the energy company’s stock worth $100,000 after purchasing an additional 283 shares during the last quarter. 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.