Imperial Oil Limited (TSE:IMO) Receives Average Rating of "Reduce" from Analysts

Key Points

• Imperial Oil Limited has received an average rating of "Reduce" from ten research firms, with three analysts suggesting a sell rating and seven issuing a hold rating.
• The company recently announced an increase in its quarterly dividend to $0.74 per share, up from $0.72, resulting in an annualized dividend yield of 2.3%.
• Imperial Oil's shares opened at C$127.02, and the firm has a market capitalization of C$64.66 billion, indicating a strong market presence as one of Canada's largest integrated oil companies.

Imperial Oil Limited (TSE:IMO - Get Free Report) NYSEMKT: IMO has earned an average rating of "Reduce" from the ten research firms that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a sell rating and seven have issued a hold rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is C$105.38.

A number of analysts recently issued reports on IMO shares. Wolfe Research downgraded shares of Imperial Oil from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 23rd. Scotiabank increased their price objective on shares of Imperial Oil from C$100.00 to C$110.00 in a research report on Friday, July 11th. Royal Bank Of Canada lifted their target price on shares of Imperial Oil from C$108.00 to C$115.00 and gave the company a "sector perform" rating in a report on Thursday, September 25th. Raymond James Financial downgraded Imperial Oil from a "moderate buy" rating to a "hold" rating and increased their price target for the company from C$105.00 to C$107.00 in a report on Thursday, July 3rd. Finally, Tudor Pickering lowered Imperial Oil from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th.

Imperial Oil Stock Performance

Shares of TSE:IMO opened at C$127.02 on Tuesday. The firm has a market capitalization of C$64.66 billion, a PE ratio of 14.00, a P/E/G ratio of 0.21 and a beta of 1.14. Imperial Oil has a 12 month low of C$82.98 and a 12 month high of C$132.08. The company has a debt-to-equity ratio of 18.04, a current ratio of 1.44 and a quick ratio of 0.98. The business has a 50-day moving average of C$122.21 and a two-hundred day moving average of C$108.93.

Imperial Oil Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Wednesday, October 1st were issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Thursday, September 4th. This is an increase from Imperial Oil's previous quarterly dividend of $0.72. Imperial Oil's dividend payout ratio (DPR) 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.

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