Imperial Oil Limited (NYSEMKT:IMO) was upgraded by stock analysts at Raymond James Financial Inc. from a “market perform” rating to an “outperform” rating in a research note issued to investors on Thursday.

IMO has been the subject of several other reports. Credit Suisse Group AG set a $46.00 price target on shares of Imperial Oil Limited and gave the stock a “hold” rating in a research note on Sunday, July 31st. Scotiabank restated a “sector perform” rating and issued a $45.00 price objective on shares of Imperial Oil Limited in a research report on Wednesday, August 3rd. TD Securities restated a “buy” rating and issued a $48.00 price objective (down previously from $49.00) on shares of Imperial Oil Limited in a research report on Thursday, August 4th. Bank of America Corp. began coverage on shares of Imperial Oil Limited in a research report on Friday, August 19th. They issued an “underperform” rating and a $32.00 price objective on the stock. Finally, JPMorgan Chase & Co. began coverage on shares of Imperial Oil Limited in a research report on Thursday, August 25th. They issued a “neutral” rating on the stock. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. Imperial Oil Limited presently has a consensus rating of “Hold” and a consensus price target of $44.67.

Analyst Recommendations for Imperial Oil Limited (NYSEMKT:IMO)

Imperial Oil Limited (NYSEMKT:IMO) traded up 3.00% during trading on Thursday, hitting $30.87. 423,839 shares of the stock were exchanged. The stock has a market cap of $26.17 billion, a P/E ratio of 116.05 and a beta of 1.14. Imperial Oil Limited has a 52 week low of $25.55 and a 52 week high of $35.48. The stock has a 50 day moving average of $30.88 and a 200-day moving average of $31.67.

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Imperial Oil Limited (NYSEMKT:IMO) last posted its quarterly earnings data on Friday, July 29th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by $0.30. The firm had revenue of $6.25 billion for the quarter. During the same quarter in the prior year, the company posted $0.14 earnings per share. Imperial Oil Limited’s revenue was down 14.4% on a year-over-year basis. Equities analysts expect that Imperial Oil Limited will post $0.45 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Friday, September 2nd will be given a dividend of $0.1135 per share. This represents a $0.45 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Wednesday, August 31st. Imperial Oil Limited’s dividend payout ratio is currently 170.37%.

Several institutional investors have recently made changes to their positions in IMO. Albert D Mason Inc. boosted its stake in shares of Imperial Oil Limited by 1.0% in the second quarter. Albert D Mason Inc. now owns 12,198 shares of the company’s stock worth $385,000 after buying an additional 125 shares during the period. Stifel Financial Corp boosted its stake in shares of Imperial Oil Limited by 1.5% in the second quarter. Stifel Financial Corp now owns 13,906 shares of the company’s stock worth $438,000 after buying an additional 200 shares during the period. M&T Bank Corp boosted its stake in shares of Imperial Oil Limited by 1.7% in the first quarter. M&T Bank Corp now owns 14,913 shares of the company’s stock worth $498,000 after buying an additional 244 shares during the period. Capstone Asset Management Co. boosted its stake in shares of Imperial Oil Limited by 0.5% in the first quarter. Capstone Asset Management Co. now owns 54,984 shares of the company’s stock worth $1,836,000 after buying an additional 270 shares during the period. Finally, Raymond James & Associates boosted its stake in shares of Imperial Oil Limited by 5.1% in the second quarter. Raymond James & Associates now owns 12,310 shares of the company’s stock worth $389,000 after buying an additional 600 shares during the period.

Imperial Oil Limited Company Profile

Imperial Oil Limited is an integrated oil company. The Company is engaged in the exploration for, and production and sale of, crude oil and natural gas. The Company’s operations are conducted in three segments: Upstream, Downstream and Chemical. Upstream operations include the exploration for, and production of, crude oil, natural gas, synthetic oil and bitumen.

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