Imperial Oil Limited (NYSEAMERICAN:IMO) Declares C$0.87 Quarterly Dividend

Key Points

• Imperial Oil declared a C$0.87 quarterly dividend, payable October 1 to shareholders of record on September 4. The dividend implies a 2.7% yield and is supported by a 41.2% payout ratio.
• The company reported quarterly earnings of $4.52 per share, beating estimates of $3.61, while revenue increased 43% year over year. Shares rose 0.6% to $129.57 during Friday trading.
• Analyst sentiment remains cautious: Imperial Oil has a consensus “Reduce” rating and an average price target of $116, below its reported trading price.

Imperial Oil Limited (NYSEAMERICAN:IMO - Get Free Report) TSE: IMO announced a quarterly dividend on Friday, July 31st. Stockholders of record on Friday, September 4th will be paid a dividend of 0.87 per share by the energy company on Thursday, October 1st. This represents a c) annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, September 4th.

Imperial Oil has a dividend payout ratio of 41.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Imperial Oil to earn $9.01 per share next year, which means the company should continue to be able to cover its $2.10 annual dividend with an expected future payout ratio of 23.3%.

Imperial Oil Stock Up 0.6%

Shares of NYSEAMERICAN IMO traded up $0.77 during midday trading on Friday, reaching $129.57. 947,648 shares of the company's stock traded hands, compared to its average volume of 673,437. The company has a market cap of $62.66 billion, a price-to-earnings ratio of 30.56 and a beta of 0.45. The stock's 50 day simple moving average is $120.67 and its 200-day simple moving average is $120.38. The company has a quick ratio of 1.02, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. Imperial Oil has a one year low of $81.87 and a one year high of $139.44.

Imperial Oil (NYSEAMERICAN:IMO - Get Free Report) TSE: IMO last issued its quarterly earnings data on Friday, July 31st. The energy company reported $4.52 EPS for the quarter, topping analysts' consensus estimates of $3.61 by $0.91. Imperial Oil had a net margin of 6.22% and a return on equity of 16.88%. The firm's revenue was up 43.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.86 earnings per share. On average, analysts predict that Imperial Oil will post 9.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Desjardins upgraded Imperial Oil to a "hold" rating in a report on Thursday, July 16th. Imperial Capital reissued a "sell" rating on shares of Imperial Oil in a research report on Tuesday, June 23rd. TD Securities restated a "sell" rating on shares of Imperial Oil in a research note on Wednesday, May 13th. Scotiabank reiterated a "sector perform" rating on shares of Imperial Oil in a research note on Friday, July 17th. Finally, Zacks Research upgraded shares of Imperial Oil from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and five have given a Sell rating to the company's stock. According to data from MarketBeat, Imperial Oil has a consensus rating of "Reduce" and an average target price of $116.00.

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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