Imperial Oil Limited (NYSE:IMO) declared a quarterly dividend on Friday, October 30th, Zacks reports. Stockholders of record on Thursday, December 3rd will be paid a dividend of 0.165 per share on Friday, January 1st. This represents a $0.66 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend is Wednesday, December 2nd.
Imperial Oil has raised its dividend by 43.2% over the last three years and has raised its dividend annually for the last 1 consecutive years. Imperial Oil has a dividend payout ratio of -95.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Imperial Oil to earn $0.08 per share next year, which means the company may not be able to cover its $0.67 annual dividend with an expected future payout ratio of 837.5%.
Imperial Oil stock opened at $18.81 on Monday. The stock has a market cap of $13.81 billion, a price-to-earnings ratio of -42.75 and a beta of 1.73. The company has a current ratio of 1.20, a quick ratio of 0.83 and a debt-to-equity ratio of 0.22. The stock has a 50 day moving average of $14.60. Imperial Oil has a 12 month low of $7.03 and a 12 month high of $27.43.
IMO has been the subject of a number of recent analyst reports. The Goldman Sachs Group cut Imperial Oil from a “neutral” rating to a “sell” rating and cut their price objective for the company from $19.00 to $15.00 in a research report on Monday, November 2nd. Raymond James increased their price objective on shares of Imperial Oil from $17.00 to $22.00 and gave the company a “market perform” rating in a report on Friday, November 20th. BMO Capital Markets upped their price target on shares of Imperial Oil from $23.00 to $25.00 and gave the stock a “market perform” rating in a research report on Friday, November 20th. CIBC lifted their price objective on Imperial Oil from $22.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, November 12th. Finally, TD Securities increased their target price on Imperial Oil from $19.00 to $23.00 and gave the company a “hold” rating in a report on Friday, November 20th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $21.71.
About Imperial Oil
Imperial Oil Limited explores for, produces, and sells crude oil and natural gas in Canada. It operates through three segments: Upstream, Downstream, and Chemical. The Upstream segment explores for and produces crude oil, natural gas, synthetic oil, and bitumen. As of December 31, 2019, this segment had 397 million oil-equivalent barrels of proved undeveloped reserves.
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