Brokerages Set Imperial Oil Limited (TSE:IMO) Price Target at C$106.00

Shares of Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) have received a consensus rating of “Reduce” from the ten ratings firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating and eight have issued a hold rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is C$106.00.

A number of brokerages have recently commented on IMO. TD Securities lifted their price objective on shares of Imperial Oil from C$95.00 to C$102.00 and gave the company a “hold” rating in a research report on Thursday, August 7th. Tudor Pickering downgraded shares of Imperial Oil from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 25th. Raymond James Financial downgraded shares of Imperial Oil from a “moderate buy” rating to a “hold” rating and lifted their target price for the stock from C$105.00 to C$107.00 in a report on Thursday, July 3rd. Royal Bank Of Canada reduced their target price on shares of Imperial Oil from C$110.00 to C$108.00 and set a “sector perform” rating for the company in a report on Thursday, August 7th. Finally, Desjardins downgraded shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 3rd.

Imperial Oil Stock Performance

Shares of IMO opened at C$120.77 on Monday. The firm has a 50-day moving average of C$113.22 and a 200-day moving average of C$102.87. Imperial Oil has a one year low of C$82.98 and a one year high of C$120.79. The company has a market cap of C$63.05 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 0.21 and a beta of 1.78. The company has a debt-to-equity ratio of 18.04, a current ratio of 1.44 and a quick ratio of 0.98.

Imperial Oil Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Thursday, September 4th will be issued 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 dividend yield of 2.5%. Imperial Oil’s payout ratio is presently 25.78%.

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.