Insider Buying: Imperial Oil Ltd (IMO) Director Acquires C$218,790.00 in Stock

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

Imperial Oil Ltd (TSE:IMO) traded down C$0.26 during mid-day trading on Friday, reaching C$39.45. The company had a trading volume of 733,500 shares, compared to its average volume of 680,627. Imperial Oil Ltd has a 12-month low of C$35.15 and a 12-month high of C$48.72.

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

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

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About Imperial Oil

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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