Brokerages Set Imperial Oil Limited (TSE:IMO) Price Target at C$106.00

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 earned an average rating of "Reduce" from the ten research firms that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is C$106.00.

A number of analysts have issued reports on IMO shares. Raymond James Financial lowered Imperial Oil from a "moderate buy" rating to a "hold" rating and boosted their target price for the company from C$105.00 to C$107.00 in a research report on Thursday, July 3rd. TD Securities lifted their price objective on Imperial Oil from C$95.00 to C$102.00 and gave the company a "hold" rating in a research note on Thursday, August 7th. Wolfe Research downgraded Imperial Oil from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 23rd. Desjardins lowered Imperial Oil from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 3rd. Finally, Scotiabank raised their target price on Imperial Oil from C$100.00 to C$110.00 in a report on Friday, July 11th.

Imperial Oil Trading Up 2.8%

Shares of Imperial Oil stock traded up C$3.34 on Monday, reaching C$120.77. The company had a trading volume of 784,524 shares, compared to its average volume of 784,652. The firm's 50 day moving average price is C$113.22 and its two-hundred day moving average price is C$102.87. The company has a debt-to-equity ratio of 18.04, a quick ratio of 0.98 and a current ratio of 1.44. Imperial Oil has a 52-week low of C$82.98 and a 52-week high of C$120.79. The firm has a market cap of C$63.05 billion, a PE ratio of 12.97, a PEG ratio of 0.21 and a beta of 1.78.

Imperial Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Thursday, September 4th will be paid a $0.74 dividend. This is a positive change from Imperial Oil's previous quarterly dividend of $0.72. This represents a $2.96 annualized dividend and a dividend yield of 2.5%. Imperial Oil's dividend payout ratio (DPR) is presently 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.