Imperial Oil Sees Unusually Large Options Volume (NYSEAMERICAN:IMO)
by Mitch Edgeman · The Markets DailyImperial Oil Limited (NYSEAMERICAN:IMO – Get Free Report) (TSE:IMO) saw some unusual options trading activity on Friday. Stock investors purchased 20,000 put options on the stock. This is an increase of approximately 3,354% compared to the typical daily volume of 579 put options.
Analysts Set New Price Targets
Several equities analysts recently weighed in on the stock. Raymond James Financial lowered shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a report on Monday, December 8th. BMO Capital Markets downgraded Imperial Oil from an “outperform” rating to a “market perform” rating in a research note on Monday, December 15th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Imperial Oil in a research note on Wednesday, November 5th. TD Securities reiterated a “sell” rating on shares of Imperial Oil in a report on Tuesday, November 4th. Finally, Zacks Research cut Imperial Oil from a “strong-buy” rating to a “hold” rating in a report on Friday, October 3rd. Six investment analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $115.00.
Read Our Latest Stock Analysis on Imperial Oil
Hedge Funds Weigh In On Imperial Oil
Several hedge funds have recently made changes to their positions in the business. IMG Wealth Management Inc. bought a new position in Imperial Oil in the second quarter valued at $28,000. MAI Capital Management grew its holdings in shares of Imperial Oil by 2,275.0% in the 2nd quarter. MAI Capital Management now owns 380 shares of the energy company’s stock valued at $30,000 after acquiring an additional 364 shares in the last quarter. Westside Investment Management Inc. grew its holdings in shares of Imperial Oil by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 426 shares of the energy company’s stock valued at $38,000 after acquiring an additional 213 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Imperial Oil by 64.8% during the third quarter. Smartleaf Asset Management LLC now owns 430 shares of the energy company’s stock valued at $40,000 after purchasing an additional 169 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Imperial Oil by 737.7% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 511 shares of the energy company’s stock worth $46,000 after purchasing an additional 450 shares during the last quarter. 20.74% of the stock is owned by institutional investors.
Imperial Oil Trading Down 0.4%
Imperial Oil stock traded down $0.33 during mid-day trading on Friday, hitting $85.52. 56,998 shares of the company’s stock were exchanged, compared to its average volume of 456,307. The company’s 50 day simple moving average is $92.08 and its 200-day simple moving average is $87.77. The company has a quick ratio of 1.17, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $41.63 billion, a P/E ratio of 15.41 and a beta of 0.70. Imperial Oil has a fifty-two week low of $58.76 and a fifty-two week high of $101.01.
Imperial Oil Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Wednesday, December 3rd will be paid a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $2.88 dividend on an annualized basis and a yield of 3.4%. Imperial Oil’s dividend payout ratio is presently 31.26%.
Imperial Oil Company Profile
Imperial Oil (NYSEAMERICAN: IMO) is a Canadian integrated energy company involved in the exploration, production, refining and marketing of petroleum and petrochemical products. Headquartered in Calgary, Alberta, Imperial has operated in Canada for well over a century and is one of the country’s long-standing energy firms. The company is majority-owned by Exxon Mobil Corporation, which provides strategic and technical links to global upstream and downstream capabilities.
Imperial’s operations span upstream activities—exploration and production of crude oil, natural gas and oil-sands resources—and downstream operations including refining, manufacturing of fuels and lubricants, petrochemical products, and retail distribution.
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