Imperial Oil (TSE:IMO) Rating Lowered to "Hold" at Raymond James Financial

Raymond James Financial downgraded shares of Imperial Oil (TSE:IMO - Free Report) NYSEMKT: IMO from a moderate buy rating to a hold rating in a research note issued to investors on Thursday, MarketBeat reports. They currently have C$107.00 price objective on the stock, up from their previous price objective of C$105.00.

Several other equities analysts have also recently commented on IMO. Desjardins cut Imperial Oil from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 3rd. The Goldman Sachs Group lowered Imperial Oil from a "neutral" rating to a "sell" rating in a research note on Thursday, March 27th. TD Securities decreased their price target on shares of Imperial Oil from C$94.00 to C$92.00 and set a "hold" rating on the stock in a research note on Monday, April 21st. Wolfe Research raised shares of Imperial Oil from a "hold" rating to a "strong-buy" rating in a report on Monday, April 21st. Finally, Scotiabank raised shares of Imperial Oil to a "hold" rating in a report on Wednesday, March 19th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of C$104.11.

Imperial Oil Stock Performance

TSE IMO traded up C$0.19 during midday trading on Thursday, hitting C$110.50. The company had a trading volume of 192,473 shares, compared to its average volume of 791,530. The firm has a fifty day simple moving average of C$102.62 and a two-hundred day simple moving average of C$98.20. Imperial Oil has a fifty-two week low of C$82.98 and a fifty-two week high of C$114.04. 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 has a market cap of C$57.69 billion, a price-to-earnings ratio of 11.87, a P/E/G ratio of 0.21 and a beta of 1.78.

Imperial Oil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, July 1st were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.61%. The ex-dividend date was Wednesday, June 4th. Imperial Oil's payout ratio is 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.