BMO Capital Markets Raises Imperial Oil (NYSEAMERICAN:IMO) Price Target to $40.00

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) had its target price raised by BMO Capital Markets from $37.00 to $40.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a market perform rating on the energy company’s stock.

A number of other analysts have also weighed in on IMO. Barclays upped their target price on Imperial Oil from $36.00 to $40.00 and gave the stock an overweight rating in a report on Monday, May 3rd. Tudor Pickering upgraded Imperial Oil from a sell rating to a hold rating in a report on Tuesday, March 2nd. The Goldman Sachs Group upgraded Imperial Oil from a sell rating to a buy rating in a report on Monday, March 8th. TD Securities increased their price objective on Imperial Oil from $33.00 to $39.00 and gave the company a hold rating in a report on Thursday, May 6th. Finally, Royal Bank of Canada increased their price objective on Imperial Oil from $35.00 to $39.00 and gave the company a sector perform rating in a report on Friday, May 7th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $34.09.

Shares of NYSEAMERICAN IMO opened at $31.12 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.96 and a current ratio of 1.27. The firm has a market capitalization of $22.84 billion, a price-to-earnings ratio of -70.73 and a beta of 1.87. The stock has a 50 day moving average price of $19.16 and a 200 day moving average price of $16.02. Imperial Oil has a 52-week low of $11.16 and a 52-week high of $31.93.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 1st. Stockholders of record on Thursday, June 3rd will be given a $0.2196 dividend. This is an increase from Imperial Oil’s previous quarterly dividend of $0.17. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date is Wednesday, June 2nd. Imperial Oil’s dividend payout ratio (DPR) is presently 30.12%.

Hedge funds have recently bought and sold shares of the stock. Artisan Partners Limited Partnership boosted its stake in shares of Imperial Oil by 0.4% in the 4th quarter. Artisan Partners Limited Partnership now owns 32,123,413 shares of the energy company’s stock valued at $609,711,000 after purchasing an additional 135,301 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Imperial Oil by 9.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,094,282 shares of the energy company’s stock valued at $458,514,000 after purchasing an additional 2,099,589 shares during the period. CIBC World Markets Inc. increased its stake in Imperial Oil by 2.4% during the 1st quarter. CIBC World Markets Inc. now owns 1,970,609 shares of the energy company’s stock worth $47,649,000 after purchasing an additional 45,538 shares in the last quarter. Toronto Dominion Bank grew its stake in shares of Imperial Oil by 9.4% during the 4th quarter. Toronto Dominion Bank now owns 1,758,308 shares of the energy company’s stock worth $33,285,000 after acquiring an additional 150,751 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Imperial Oil by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,231,154 shares of the energy company’s stock worth $23,429,000 after acquiring an additional 19,374 shares in the last quarter. Institutional investors and hedge funds own 21.35% of the company’s stock.

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, 2020, this segment had 138 million oil-equivalent barrels of proved undeveloped reserves.

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Analyst Recommendations for Imperial Oil (NYSEAMERICAN:IMO)

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