Imperial Oil (NYSEAMERICAN:IMO) Lowered to "Underweight" Rating by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Imperial Oil (NYSEAMERICAN:IMO - Free Report) TSE: IMO from a neutral rating to an underweight rating in a research report report published on Thursday, MarketBeat.com reports.

A number of other equities research analysts have also weighed in on the stock. Scotiabank reissued a "sector perform" rating and set a $110.00 target price on shares of Imperial Oil in a report on Wednesday, September 25th. StockNews.com cut shares of Imperial Oil from a "buy" rating to a "hold" rating in a research note on Wednesday, August 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $109.00.

Imperial Oil Price Performance

Shares of IMO stock traded down $1.71 on Thursday, hitting $62.51. 751,538 shares of the company's stock were exchanged, compared to its average volume of 411,321. The company has a market cap of $32.04 billion, a P/E ratio of 9.32 and a beta of 1.42. The company has a quick ratio of 1.23, a current ratio of 1.44 and a debt-to-equity ratio of 0.17. Imperial Oil has a 12 month low of $54.58 and a 12 month high of $80.17.

Imperial Oil Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Tuesday, December 3rd will be paid a $0.4304 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.75%. Imperial Oil's dividend payout ratio (DPR) is 26.38%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. lifted its holdings in Imperial Oil by 0.9% in the 3rd quarter. Franklin Resources Inc. now owns 191,647 shares of the energy company's stock worth $13,502,000 after buying an additional 1,619 shares during the period. Tidal Investments LLC boosted its holdings in Imperial Oil by 77.4% in the third quarter. Tidal Investments LLC now owns 7,474 shares of the energy company's stock valued at $527,000 after acquiring an additional 3,261 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Imperial Oil during the 3rd quarter valued at $137,000. Barclays PLC raised its holdings in Imperial Oil by 27.8% in the 3rd quarter. Barclays PLC now owns 2,838 shares of the energy company's stock worth $200,000 after purchasing an additional 617 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Imperial Oil by 9.1% during the 3rd quarter. Geode Capital Management LLC now owns 842,664 shares of the energy company's stock valued at $59,502,000 after purchasing an additional 70,357 shares in 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.