Imperial Oil Ltd (IMO) Director David Wallace Cornhill Acquires 5,500 Shares

Imperial Oil Ltd (TSE:IMO) (NYSEMKT:IMO) Director David Wallace Cornhill bought 5,500 shares of the stock in a transaction dated Wednesday, December 6th. The stock was purchased at an average cost of C$39.78 per share, for a total transaction of C$218,790.00.

Imperial Oil Ltd (IMO) traded down C$0.26 during trading on Friday, reaching C$39.45. 733,500 shares of the company’s stock were exchanged, compared to its average volume of 680,627. Imperial Oil Ltd has a 52 week low of C$35.15 and a 52 week high of C$48.72.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 1st will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.64 dividend on an annualized basis and a yield of 1.62%. Imperial Oil’s payout ratio is presently 25.41%.

Several research analysts recently issued reports on the stock. AltaCorp Capital downgraded shares of Imperial Oil from a “sector perform” rating to an “underperform” rating in a research report on Wednesday, August 23rd. Barclays reduced their price target on shares of Imperial Oil from C$44.00 to C$38.00 and set an “underweight” rating on the stock in a research report on Thursday, November 2nd. J P Morgan Chase & Co upped their price target on shares of Imperial Oil from C$36.00 to C$38.00 and gave the stock an “underweight” rating in a research report on Thursday, September 14th. Finally, TD Securities upped their price target on shares of Imperial Oil from C$42.00 to C$43.00 and gave the stock a “hold” rating in a research report on Thursday, November 2nd. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Imperial Oil currently has a consensus rating of “Hold” and a consensus price target of C$42.82.

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Imperial Oil Company Profile

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

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