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 dividend on an annualized basis 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 IMO opened at $18.81 on Monday. The firm’s fifty day moving average price is $14.60. The company has a quick ratio of 0.83, a current ratio of 1.20 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $13.81 billion, a price-to-earnings ratio of -42.75 and a beta of 1.73. Imperial Oil has a 12-month low of $7.03 and a 12-month high of $27.43.
A number of research firms recently weighed in on IMO. TD Securities boosted their price target on shares of Imperial Oil from $19.00 to $23.00 and gave the stock a “hold” rating in a research note on Friday, November 20th. BMO Capital Markets boosted their target price on Imperial Oil from $23.00 to $25.00 and gave the company a “market perform” rating in a research note on Friday, November 20th. The Goldman Sachs Group cut Imperial Oil from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $19.00 to $15.00 in a research note on Monday, November 2nd. JPMorgan Chase & Co. upgraded shares of Imperial Oil to a “neutral” rating and upped their price target for the company from $18.00 to $23.00 in a report on Monday, November 2nd. Finally, Raymond James raised their price objective on shares of Imperial Oil from $17.00 to $22.00 and gave the stock a “market perform” rating in a report on Friday, November 20th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Imperial Oil has a consensus rating of “Hold” and a consensus price target 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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