Imperial Oil Limited (NYSE:IMO) declared a quarterly dividend on Friday, October 30th, Zacks reports. Shareholders 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 yield of 3.51%. The ex-dividend date of this dividend is Wednesday, December 2nd.
Imperial Oil has raised its dividend payment by 43.2% over the last three years and has increased its dividend every year for the last 1 years. Imperial Oil has a 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. 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%.
Shares of Imperial Oil stock opened at $18.81 on Monday. The firm has a fifty day moving average of $14.60. Imperial Oil has a fifty-two week low of $7.03 and a fifty-two week high of $27.43. 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 company has a market cap of $13.81 billion, a P/E ratio of -42.75 and a beta of 1.73.
IMO has been the topic of several research reports. CIBC upped their price target on Imperial Oil from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, November 12th. The Goldman Sachs Group downgraded shares of Imperial Oil from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $19.00 to $15.00 in a research note on Monday, November 2nd. BMO Capital Markets increased their price objective on shares of Imperial Oil from $23.00 to $25.00 and gave the company a “market perform” rating in a research note on Friday, November 20th. Morgan Stanley reduced their price objective on shares of Imperial Oil from $27.00 to $19.00 and set an “equal weight” rating for the company in a report on Tuesday, October 20th. Finally, Raymond James upped their target price on shares of Imperial Oil from $17.00 to $22.00 and gave the company a “market perform” rating in a research note on Friday, November 20th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Imperial Oil presently has an average rating of “Hold” and an average target price of $21.71.
Imperial Oil Company Profile
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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