Royal Bank of Canada Cuts Imperial Oil (TSE:IMO) Price Target to C$39.00

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its price target trimmed by Royal Bank of Canada from C$40.00 to C$39.00 in a research report report published on Thursday morning, BayStreet.CA reports.

A number of other research analysts also recently commented on the company. GMP Securities reissued a buy rating and issued a $22.25 price target on shares of SPDR Wells Fargo Preferred Stock ETF in a report on Friday, June 28th. CIBC reduced their price target on WestJet Airlines from C$22.00 to C$21.00 in a report on Tuesday, April 23rd. Canaccord Genuity reissued a buy rating and issued a $7.50 price target on shares of in a report on Tuesday, July 9th. Goldman Sachs Group increased their price target on MEG Energy from C$6.00 to C$7.00 in a report on Tuesday, April 16th. Finally, Raymond James initiated coverage on PennantPark Investment in a report on Monday, April 29th. They issued an outperform rating and a $8.00 price target for the company. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Imperial Oil presently has an average rating of Hold and an average price target of C$41.62.

Shares of IMO opened at C$36.37 on Thursday. The stock has a market capitalization of $27.79 billion and a P/E ratio of 13.82. Imperial Oil has a one year low of C$33.52 and a one year high of C$44.69. The company has a debt-to-equity ratio of 22.62, a current ratio of 1.22 and a quick ratio of 0.86. The company has a 50-day simple moving average of C$36.44.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last issued its quarterly earnings results on Friday, April 26th. The company reported C$0.38 EPS for the quarter, missing analysts’ consensus estimates of C$0.50 by C($0.12). The company had revenue of C$7.98 billion during the quarter, compared to analysts’ expectations of C$5.86 billion. Sell-side analysts anticipate that Imperial Oil will post 2.6400002 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.88 annualized dividend and a yield of 2.42%. This is a boost from Imperial Oil’s previous quarterly dividend of $0.19. Imperial Oil’s dividend payout ratio is presently 28.89%.

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, 2018, this segment had 404 million oil-equivalent barrels of proved undeveloped reserves.

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Analyst Recommendations for Imperial Oil (TSE:IMO)

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