Imperial Oil (TSE:IMO) Given New C$102.00 Price Target at TD Securities

Key Points

• TD Securities has increased its price target for Imperial Oil stock from C$95.00 to C$102.00, maintaining a "hold" rating on the stock.
• Other analysts have downgraded Imperial Oil's ratings recently, with Wolfe Research moving it from "strong-buy" to "hold" and Desjardins cutting it from "hold" to "strong sell."
• Imperial Oil currently trades at C$117.04 and has experienced a price fluctuation between C$82.98 and C$119.54 over the past year.

Imperial Oil (TSE:IMO - Free Report) NYSEMKT: IMO had its target price increased by TD Securities from C$95.00 to C$102.00 in a research note issued to investors on Thursday,BayStreet.CA reports. They currently have a hold rating on the stock.

Several other analysts have also recently commented on the company. Royal Bank Of Canada lowered their price target on Imperial Oil from C$110.00 to C$108.00 and set a "sector perform" rating for the company in a report on Thursday. Raymond James Financial cut Imperial Oil from a "moderate buy" rating to a "hold" rating and lifted their price target for the company from C$105.00 to C$107.00 in a report on Thursday, July 3rd. Desjardins cut Imperial Oil from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 3rd. Wolfe Research cut Imperial Oil from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 23rd. Finally, Tudor Pickering cut Imperial Oil from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Two analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of C$106.00.

Imperial Oil Price Performance

IMO stock traded down C$2.68 during trading on Thursday, hitting C$114.97. The stock had a trading volume of 973,671 shares, compared to its average volume of 790,893. 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 has a market cap of C$60.02 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of 0.21 and a beta of 1.78. The company's 50 day moving average price is C$110.90 and its two-hundred day moving average price is C$101.88. Imperial Oil has a 1-year low of C$82.98 and a 1-year high of C$119.54.

Imperial Oil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Thursday, September 4th will be issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 2.6%. This is a boost from Imperial Oil's previous quarterly dividend of $0.72. Imperial Oil's dividend payout ratio 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.