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

Key Points

• Analysts have given Imperial Oil Limited (TSE:IMO) a consensus rating of "Reduce," with two sell ratings and eight hold ratings from ten analysts covering the stock.
• The company's dividend has increased from $0.72 to $0.74 per share, reflecting a 2.6% yield and a dividend payout ratio of 25.78%.
• Imperial Oil's market capitalization is currently C$60.28 billion, and the stock has fluctuated between a 12-month low of C$82.98 and a high of C$119.54.

Shares of Imperial Oil Limited (TSE:IMO - Get Free Report) NYSEMKT: IMO have been given a consensus recommendation of "Reduce" by the ten analysts that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating and eight have issued a hold rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is C$106.00.

Several analysts have issued reports on IMO shares. Wolfe Research lowered Imperial Oil from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 23rd. Desjardins cut shares of Imperial Oil from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 3rd. Tudor Pickering cut shares of Imperial Oil from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Raymond James Financial cut shares of 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, Royal Bank Of Canada lowered their price target on shares of 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.

Imperial Oil Price Performance

TSE:IMO opened at C$115.46 on Monday. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 18.04. The stock's 50 day moving average price is C$112.10 and its two-hundred day moving average price is C$102.25. The firm has a market capitalization of C$60.28 billion, a price-to-earnings ratio of 12.40, a P/E/G ratio of 0.21 and a beta of 1.78. Imperial Oil has a 12-month low of C$82.98 and a 12-month high of C$119.54.

Imperial Oil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Thursday, September 4th will be issued a dividend of $0.74 per share. This is a boost from Imperial Oil's previous quarterly dividend of $0.72. This represents a $2.96 annualized dividend and a dividend yield of 2.6%. Imperial Oil's dividend payout ratio (DPR) is currently 25.78%.

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.

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