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

Other equities analysts have also issued research reports about the company. TD Securities restated a “buy” rating and issued a $48.00 price target (down previously from $49.00) on shares of Imperial Oil Limited in a research note on Thursday, August 4th. Credit Suisse Group AG set a $46.00 price objective on Imperial Oil Limited and gave the stock a “hold” rating in a research note on Sunday, July 31st. JPMorgan Chase & Co. started coverage on Imperial Oil Limited in a research note on Thursday, August 25th. They set a “neutral” rating for the company. Citigroup Inc. upgraded Imperial Oil Limited to an “outperform” rating and set a $50.00 price objective for the company in a research note on Thursday. Finally, Scotiabank reiterated a “sector perform” rating and set a $45.00 price objective on shares of Imperial Oil Limited in a research note on Wednesday, August 3rd. 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. The company has a consensus rating of “Hold” and a consensus target price of $44.67.

Analyst Recommendations for Imperial Oil Limited (NYSEMKT:IMO)

Shares of Imperial Oil Limited (NYSEMKT:IMO) opened at 29.97 on Thursday. Imperial Oil Limited has a 52 week low of $25.55 and a 52 week high of $35.48. The company’s 50 day moving average price is $30.88 and its 200-day moving average price is $31.67. The company has a market capitalization of $25.40 billion, a price-to-earnings ratio of 112.67 and a beta of 1.14.

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Imperial Oil Limited (NYSEMKT:IMO) last announced its quarterly earnings results on Friday, July 29th. The company reported ($0.21) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by $0.30. The company earned $6.25 billion during the quarter. During the same period last year, the firm posted $0.14 earnings per share. The company’s revenue for the quarter was down 14.4% compared to the same quarter last year. Analysts anticipate that Imperial Oil Limited will post $0.45 earnings per share for the current fiscal year.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its position in Imperial Oil Limited by 5.2% in the first quarter. Royal Bank of Canada now owns 16,090,373 shares of the company’s stock worth $537,418,000 after buying an additional 793,862 shares in the last quarter. Guinness Asset Management Ltd boosted its position in Imperial Oil Limited by 11.1% in the second quarter. Guinness Asset Management Ltd now owns 353,566 shares of the company’s stock worth $11,129,000 after buying an additional 35,200 shares in the last quarter. TD Asset Management Inc. boosted its position in Imperial Oil Limited by 4.6% in the second quarter. TD Asset Management Inc. now owns 7,471,085 shares of the company’s stock worth $235,172,000 after buying an additional 331,018 shares in the last quarter. M&T Bank Corp boosted its position in 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 in the last quarter. Finally, Credit Agricole S A boosted its position in Imperial Oil Limited by 101.5% in the first quarter. Credit Agricole S A now owns 151,164 shares of the company’s stock worth $5,049,000 after buying an additional 76,156 shares in the last quarter.

About Imperial Oil Limited

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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