Imperial Oil Limited (TSE:IMO) Receives C$106.00 Consensus PT from Brokerages

Key Points

• Imperial Oil Limited has received an average brokerage rating of "Reduce," with two analysts giving it a sell rating and eight analysts issuing a hold rating.
• The company recently increased its quarterly dividend to $0.74 per share, up from $0.72, representing an annualized yield of 2.3%.
• Imperial Oil's shares opened at C$126.98, with a market capitalization of C$64.64 billion and a current debt-to-equity ratio of 18.04.

Shares of Imperial Oil Limited (TSE:IMO - Get Free Report) NYSEMKT: IMO have earned an average recommendation of "Reduce" from the ten ratings firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and eight have given a hold recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is C$106.00.

Several research firms recently commented on IMO. Desjardins downgraded shares of Imperial Oil from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 3rd. Wolfe Research downgraded shares of Imperial Oil from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 23rd. Raymond James Financial cut shares of Imperial Oil from a "moderate buy" rating to a "hold" rating and increased their target price for the stock from C$105.00 to C$107.00 in a research note on Thursday, July 3rd. Royal Bank Of Canada lowered their target price on shares of Imperial Oil from C$110.00 to C$108.00 and set a "sector perform" rating on the stock in a research note on Thursday, August 7th. Finally, Scotiabank increased their target price on shares of Imperial Oil from C$100.00 to C$110.00 in a research note on Friday, July 11th.

Imperial Oil Stock Performance

Shares of Imperial Oil stock traded up C$1.98 on Friday, reaching C$127.97. 1,000,575 shares of the company traded hands, compared to its average volume of 791,800. Imperial Oil has a 52 week low of C$82.98 and a 52 week high of C$128.22. The company has a 50 day moving average of C$117.25 and a 200 day moving average of C$105.51. The firm has a market capitalization of C$65.14 billion, a PE ratio of 14.11, a PEG ratio of 0.21 and a beta of 1.21. The company has a debt-to-equity ratio of 18.04, a current ratio of 1.44 and a quick ratio of 0.98.

Imperial Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.74 per share. This is an increase from Imperial Oil's previous quarterly dividend of $0.72. The ex-dividend date is Thursday, September 4th. This represents a $2.96 annualized dividend and a dividend yield of 2.3%. Imperial Oil's dividend payout ratio is 29.11%.

Imperial Oil Company Profile

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.