TD Securities Issues Positive Forecast for Imperial Oil (TSE:IMO) Stock Price

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 price target boosted by TD Securities from C$95.00 to C$102.00 in a report released on Thursday morning,BayStreet.CA reports. The brokerage currently has a hold rating on the stock.

Other equities research analysts have also issued research reports about the stock. Wolfe Research lowered shares of Imperial Oil from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada lowered their target price 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. Desjardins lowered shares of Imperial Oil from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 3rd. Scotiabank increased their price objective on shares of Imperial Oil from C$100.00 to C$110.00 in a research note on Friday, July 11th. Finally, Raymond James Financial lowered shares of Imperial Oil from a "moderate buy" rating to a "hold" rating and increased their price objective for the company from C$105.00 to C$107.00 in a research note on Thursday, July 3rd. Two investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of C$106.00.

Imperial Oil Stock Up 0.8%

Shares of IMO traded up C$0.89 on Thursday, reaching C$117.65. The company's stock had a trading volume of 1,012,098 shares, compared to its average volume of 789,690. The company has a current ratio of 1.44, a quick ratio of 0.98 and a debt-to-equity ratio of 18.04. Imperial Oil has a twelve month low of C$82.98 and a twelve month high of C$119.54. The stock has a market capitalization of C$61.42 billion, a PE ratio of 12.64, a PEG ratio of 0.21 and a beta of 1.78. The firm has a fifty day moving average of C$110.59 and a 200-day moving average of C$101.79.

Imperial Oil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Thursday, September 4th will be paid a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 2.5%. This is a positive change from Imperial Oil's previous quarterly dividend of $0.72. 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.