Imperial Oil Limited (TSE:IMO) Given Average Rating of "Strong Sell" by Brokerages

Key Points

• Analysts' consensus: Eleven brokerages give Imperial Oil a consensus rating of "Strong Sell" (six sell, five hold), with an average 1-year price target of C$116.20.
• Shares opened at C$162.61, trading in a 12-month range of C$82.98–C$169.07, with a market cap of C$78.64 billion and a P/E of 25.09.
• Dividend hike: The company raised its quarterly dividend to $0.87 (annualized $3.48) for a ~2.1% yield, with an ex-dividend date of March 5 and payment on April 1.

Shares of Imperial Oil Limited (TSE:IMO - Get Free Report) NYSEMKT: IMO have been assigned a consensus recommendation of "Strong Sell" from the eleven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is C$116.20.

Several research firms have recently weighed in on IMO. JPMorgan Chase & Co. boosted their price objective on shares of Imperial Oil from C$99.00 to C$108.00 in a research note on Tuesday, February 3rd. Desjardins raised their target price on shares of Imperial Oil from C$120.00 to C$132.00 and gave the company a "sell" rating in a research note on Friday, February 20th. Raymond James Financial boosted their price target on Imperial Oil from C$106.00 to C$107.00 and gave the stock an "underperform" rating in a research report on Monday, February 2nd. BMO Capital Markets lowered Imperial Oil from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from C$132.00 to C$129.00 in a research note on Monday, December 15th. Finally, Morgan Stanley raised their price objective on Imperial Oil from C$97.00 to C$101.00 in a research report on Thursday, November 20th.

Imperial Oil Stock Down 0.4%

IMO stock opened at C$162.61 on Friday. Imperial Oil has a twelve month low of C$82.98 and a twelve month high of C$169.07. The company has a market cap of C$78.64 billion, a price-to-earnings ratio of 25.09, a P/E/G ratio of 0.21 and a beta of 0.95. The company has a quick ratio of 0.98, a current ratio of 1.27 and a debt-to-equity ratio of 19.69. The business has a 50 day moving average price of C$143.64 and a two-hundred day moving average price of C$132.49.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO last released its earnings results on Friday, January 30th. The company reported C$1.97 earnings per share for the quarter. The business had revenue of C$11.28 billion during the quarter. Imperial Oil had a net margin of 7.02% and a return on equity of 14.75%. Analysts anticipate that Imperial Oil will post 8.6164609 EPS for the current fiscal year.

Imperial Oil Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, April 1st will be issued a dividend of $0.87 per share. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $3.48 annualized dividend and a yield of 2.1%. This is a positive change from Imperial Oil's previous quarterly dividend of $0.72. Imperial Oil's payout ratio is 44.44%.

About Imperial Oil

Imperial Oil is one of Canada's largest integrated oil companies, focusing on upstream operations, petroleum refining operations, and the marketing of petroleum products. Production averaged 398 thousand barrels of oil equivalent per day in 2020. The company estimates that it holds 5.2 billion boe of proved and probable crude oil and natural gas reserves. Imperial remains the largest refiner of petroleum products in Canada, operating three refineries with a combined processing capacity of 421 mboe/d.

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