Imperial Oil (TSE:IMO) Price Target Raised to C$110.00

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its target price hoisted by JPMorgan Chase & Co. from C$101.00 to C$110.00 in a research note released on Thursday morning,BayStreet.CA reports.

Other research analysts also recently issued reports about the company. CIBC downgraded Imperial Oil from a “neutral” rating to an “underperform” rating and upped their price target for the company from C$108.00 to C$110.00 in a report on Wednesday, October 15th. Wolfe Research cut shares of Imperial Oil from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 23rd. Cibc World Mkts lowered shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Raymond James Financial cut shares of Imperial Oil from a “moderate buy” rating to a “hold” rating and boosted their price objective for the company from C$105.00 to C$107.00 in a report on Thursday, July 3rd. Finally, TD Securities cut shares of Imperial Oil from a “hold” rating to a “sell” rating and raised their target price for the stock from C$102.00 to C$104.00 in a report on Tuesday, September 30th. Six research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of C$107.13.

Imperial Oil Price Performance

Shares of TSE IMO opened at C$127.26 on Thursday. The firm has a market cap of C$64.78 billion, a P/E ratio of 14.03, a PEG ratio of 0.21 and a beta of 1.14. Imperial Oil has a twelve month low of C$82.98 and a twelve month high of C$132.08. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 18.04. The company has a 50 day moving average of C$124.09 and a 200 day moving average of C$111.23.

Imperial Oil Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Wednesday, October 1st were given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 2.3%. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.72. The ex-dividend date was Thursday, September 4th. Imperial Oil’s dividend payout ratio (DPR) is presently 29.11%.

Imperial Oil Company Profile

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.