Imperial Oil - IMO Stock Forecast, Price & News

Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores for, and produces crude oil, natural gas, synthetic oil, and bitumen. As of December 31, 2021, this segment had 386 million oil-equivalent barrels of proved undeveloped reserves. The Downstream segment is involved in the transportation and refining of crude oil, blending of refined products and the distribution, and marketing of refined products. It also transports crude oil to refineries by contracted pipelines, common carrier pipelines, and rail; maintains a distribution system to move petroleum products to market by pipeline, tanker, rail, and road transport; and owns and operates fuel terminals, natural gas liquids, and products pipelines in Alberta, Manitoba, and Ontario. In addition, this segment markets and supplies petroleum products to motoring public through approximately 2,400 Esso and Mobil-branded sites. Further, it sells petroleum products, including fuel, asphalt, and lubricants for industrial and transportation customers, independent marketers, and resellers, as well as other refiners serving the agriculture, residential heating, and commercial markets through branded fuel and lubricant resellers. The Chemical segment manufactures and markets various petrochemicals, benzene, aromatic and aliphatic solvents, plasticizer intermediates, and polyethylene resin. Imperial Oil Limited has a strategic agreement with E3 Metals Corp. to advance a lithium-extraction pilot in Alberta. The company was incorporated in 1880 and is headquartered in Calgary, Canada. Imperial Oil Limited is a subsidiary of Exxon Mobil Corporation.

Imperial Oil Price Performance

TSE:IMO traded down C$0.54 during mid-day trading on Monday, hitting C$54.44. 670,732 shares of the stock traded hands, compared to its average volume of 1,512,230. The business's 50-day moving average price is C$61.77 and its 200 day moving average price is C$60.36. The company has a market cap of C$34.66 billion and a PE ratio of 11.70. Imperial Oil has a 12-month low of C$30.64 and a 12-month high of C$72.96. The company has a quick ratio of 0.99, a current ratio of 1.24 and a debt-to-equity ratio of 24.26.

Imperial Oil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Friday, September 2nd will be paid a dividend of $0.34 per share. The ex-dividend date is Thursday, September 1st. This represents a $1.36 annualized dividend and a yield of 2.50%. Imperial Oil's dividend payout ratio is currently 25.96%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. BMO Capital Markets raised their price objective on shares of Imperial Oil from C$65.00 to C$70.00 in a report on Monday, May 2nd. National Bankshares decreased their price objective on shares of Imperial Oil from C$93.00 to C$86.00 and set a "sector perform" rating for the company in a report on Monday, July 18th. Scotiabank raised their price objective on shares of Imperial Oil from C$72.00 to C$80.00 in a report on Wednesday, June 8th. Credit Suisse Group raised their price objective on shares of Imperial Oil to C$72.00 and gave the stock a "neutral" rating in a report on Monday, May 9th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Imperial Oil from C$77.00 to C$79.00 in a report on Monday, May 2nd. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of C$68.06.