Imperial Oil Limited (TSE:IMO) Receives C$106.00 Average Price Target from Analysts

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 been given an average rating of "Reduce" by the ten ratings firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation and eight have issued a hold recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is C$106.00.

A number of brokerages recently weighed in on IMO. Tudor Pickering cut Imperial Oil from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Royal Bank Of Canada reduced their target price on Imperial Oil from C$110.00 to C$108.00 and set a "sector perform" rating on the stock in a report on Thursday, August 7th. Raymond James Financial cut Imperial Oil from a "moderate buy" rating to a "hold" rating and lifted their target price for the company from C$105.00 to C$107.00 in a report on Thursday, July 3rd. TD Securities lifted their target price on Imperial Oil from C$95.00 to C$102.00 and gave the company a "hold" rating in a report on Thursday, August 7th. Finally, Wolfe Research lowered Imperial Oil from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 23rd.

Imperial Oil Trading Down 0.6%

Imperial Oil stock traded down C$0.80 during midday trading on Friday, reaching C$130.14. The stock had a trading volume of 854,859 shares, compared to its average volume of 793,262. Imperial Oil has a twelve month low of C$82.98 and a twelve month high of C$132.08. The stock has a market capitalization of C$66.25 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 0.21 and a beta of 1.21. The company has a debt-to-equity ratio of 18.04, a quick ratio of 0.98 and a current ratio of 1.44. The stock's 50-day simple moving average is C$118.45 and its 200 day simple moving average is C$106.06.

Imperial Oil Increases Dividend

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

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.