Imperial Oil (NYSEAMERICAN:IMO) Sees Large Volume Increase – Still a Buy?

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) saw an uptick in trading volume on Monday . 4,067,985 shares traded hands during trading, an increase of 892% from the previous session’s volume of 409,979 shares.The stock last traded at $73.17 and had previously closed at $73.92.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on IMO shares. StockNews.com cut Imperial Oil from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Scotiabank reiterated a “sector perform” rating and issued a $110.00 price objective on shares of Imperial Oil in a research note on Wednesday, September 25th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Imperial Oil currently has a consensus rating of “Hold” and a consensus target price of $109.00.

Imperial Oil Price Performance

The company has a debt-to-equity ratio of 0.17, a current ratio of 1.44 and a quick ratio of 1.23. The firm has a market cap of $37.81 billion, a P/E ratio of 11.02 and a beta of 1.44.

Imperial Oil Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Tuesday, December 3rd will be issued a $0.4304 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Tuesday, December 3rd. Imperial Oil’s dividend payout ratio (DPR) is presently 26.53%.

Institutional Investors Weigh In On Imperial Oil

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Manning & Napier Advisors LLC acquired a new position in shares of Imperial Oil during the 2nd quarter valued at $3,064,000. Fiera Capital Corp grew its stake in shares of Imperial Oil by 262.5% in the second quarter. Fiera Capital Corp now owns 95,455 shares of the energy company’s stock valued at $6,511,000 after buying an additional 69,121 shares in the last quarter. Ritholtz Wealth Management raised its holdings in shares of Imperial Oil by 17.4% during the 3rd quarter. Ritholtz Wealth Management now owns 59,726 shares of the energy company’s stock valued at $4,208,000 after buying an additional 8,858 shares during the period. Bridgewater Associates LP lifted its position in Imperial Oil by 522.8% during the 3rd quarter. Bridgewater Associates LP now owns 201,126 shares of the energy company’s stock worth $14,166,000 after acquiring an additional 168,831 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Imperial Oil by 855.2% in the third quarter. Assenagon Asset Management S.A. now owns 35,981 shares of the energy company’s stock valued at $2,534,000 after acquiring an additional 32,214 shares in the last quarter. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

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.