Imperial Oil (TSE:IMO) Price Target Raised to C$126.00

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its price target upped by Raymond James Financial from C$107.00 to C$126.00 in a research note published on Monday,BayStreet.CA reports.

A number of other brokerages also recently weighed in on IMO. Royal Bank Of Canada downgraded shares of Imperial Oil from a “sector perform” rating to an “underperform” rating and set a C$116.00 target price for the company. in a research note on Monday, February 23rd. Desjardins upped their price target on shares of Imperial Oil from C$120.00 to C$132.00 and gave the company a “sell” rating in a research report on Friday, February 20th. BMO Capital Markets downgraded Imperial Oil from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from C$132.00 to C$129.00 in a report on Monday, December 15th. JPMorgan Chase & Co. boosted their price objective on Imperial Oil from C$99.00 to C$108.00 in a research note on Tuesday, February 3rd. Finally, National Bank Financial upped their target price on Imperial Oil from C$127.00 to C$139.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 3rd. Four equities research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. According to MarketBeat, Imperial Oil has a consensus rating of “Strong Sell” and an average target price of C$130.82.

Imperial Oil Stock Performance

TSE:IMO opened at C$179.54 on Monday. The company has a debt-to-equity ratio of 19.69, a quick ratio of 0.98 and a current ratio of 1.27. Imperial Oil has a fifty-two week low of C$82.98 and a fifty-two week high of C$185.13. The company has a 50 day simple moving average of C$160.98 and a two-hundred day simple moving average of C$139.25. The company has a market capitalization of C$86.82 billion, a PE ratio of 27.71, a P/E/G ratio of 0.21 and a beta of 0.90.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last issued its quarterly earnings results on Friday, January 30th. The company reported C$1.97 earnings per share (EPS) for the quarter. Imperial Oil had a net margin of 7.02% and a return on equity of 14.75%. The firm had revenue of C$11.28 billion for the quarter. Research analysts anticipate that Imperial Oil will post 8.6164609 earnings per share for the current year.

Imperial Oil Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Wednesday, April 1st were issued a $0.87 dividend. The ex-dividend date was Thursday, March 5th. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.72. This represents a $3.48 dividend on an annualized basis and a yield of 1.9%. Imperial Oil’s dividend payout ratio is 44.44%.

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. Imperial remains the largest refiner of petroleum products in Canada, operating three refineries with a combined processing capacity of 421 mboe/d.