Brokerages Set Imperial Oil Limited (TSE:IMO) Price Target at C$105.38

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) has received an average recommendation of “Reduce” from the nine brokerages that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is C$105.63.

A number of research analysts have recently commented on IMO shares. TD Securities lowered Imperial Oil from a “hold” rating to a “sell” rating and raised their price target for the company from C$102.00 to C$104.00 in a report on Tuesday, September 30th. Tudor Pickering cut Imperial Oil from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 25th. Wolfe Research cut Imperial Oil from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 23rd. Raymond James Financial cut Imperial Oil from a “moderate buy” rating to a “hold” rating and raised their target price for the company from C$105.00 to C$107.00 in a research note on Thursday, July 3rd. Finally, Scotiabank raised their target price on Imperial Oil from C$100.00 to C$110.00 in a research note on Friday, July 11th.

Imperial Oil Price Performance

Shares of IMO opened at C$121.95 on Tuesday. The firm has a market capitalization of C$62.08 billion, a price-to-earnings ratio of 13.45, a price-to-earnings-growth ratio of 0.21 and a beta of 1.14. The company has a debt-to-equity ratio of 18.04, a quick ratio of 0.98 and a current ratio of 1.44. Imperial Oil has a one year low of C$82.98 and a one year high of C$132.08. The stock’s fifty day moving average is C$122.84 and its 200-day moving average is C$109.45.

Imperial Oil Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Wednesday, October 1st were paid a dividend of $0.74 per share. This is an increase from Imperial Oil’s previous quarterly dividend of $0.72. This represents a $2.96 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Thursday, September 4th. Imperial Oil’s dividend payout ratio (DPR) is 29.11%.

About Imperial Oil

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.