Imperial Oil Ltd (IMO) Given Consensus Rating of “Hold” by Brokerages

Imperial Oil Ltd (TSE:IMO) (NYSEMKT:IMO) has earned a consensus recommendation of “Hold” from the fifteen brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is C$45.64.

A number of brokerages have recently weighed in on IMO. TD Securities reduced their price objective on shares of Imperial Oil from C$48.00 to C$46.00 and set a “buy” rating for the company in a research note on Thursday, May 4th. Scotiabank restated a “sector perform” rating and issued a C$49.00 price objective on shares of Imperial Oil in a research note on Monday, May 1st. CIBC cut shares of Imperial Oil from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from C$50.00 to C$45.00 in a research note on Wednesday, May 24th. Goldman Sachs Group Inc cut shares of Imperial Oil from a “neutral” rating to a “sell” rating in a research note on Wednesday, April 5th. Finally, Canaccord Genuity restated a “hold” rating and issued a C$45.00 price objective on shares of Imperial Oil in a research note on Thursday, March 9th.

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In other news, Director David Stewart Sutherland bought 10,000 shares of the stock in a transaction dated Tuesday, May 2nd. The shares were acquired at an average price of C$39.79 per share, with a total value of C$397,900.00.

Imperial Oil (TSE:IMO) traded down 1.05% during trading on Tuesday, reaching $37.85. 515,128 shares of the company’s stock were exchanged. Imperial Oil has a 52 week low of $37.77 and a 52 week high of $48.72. The stock has a market capitalization of $32.08 billion and a price-to-earnings ratio of 12.37. The company’s 50 day moving average price is $39.47 and its 200-day moving average price is $42.64.

The company also recently announced a quarterly dividend, which will be paid on Saturday, July 1st. Stockholders of record on Friday, June 2nd will be issued a $0.16 dividend. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $0.64 annualized dividend and a dividend yield of 1.69%.

About Imperial Oil

Imperial Oil Limited is an integrated oil company. The Company is engaged in all the phases of the petroleum industry in Canada, including exploration for, and production and sale of, crude oil and natural gas. Its operations are conducted in three segments: Upstream, Downstream and Chemical. The Upstream operations include the exploration for, and production of, crude oil, natural gas, synthetic oil and bitumen.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “TSX:IMO”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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