Imperial Oil (TSE:IMO) Price Target Raised to C$45.00 at BMO Capital Markets

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its target price lifted by BMO Capital Markets from C$40.00 to C$45.00 in a research note issued to investors on Monday morning, reports. The brokerage currently has a na rating on the stock.

Several other equities research analysts have also recently weighed in on the company. The Goldman Sachs Group cut Imperial Oil from a buy rating to a neutral rating and set a C$36.00 price objective for the company. in a research report on Wednesday, May 12th. Royal Bank of Canada increased their price objective on Imperial Oil from C$35.00 to C$39.00 and gave the company a sector perform rating in a research report on Friday, May 7th. Credit Suisse Group increased their price objective on Imperial Oil to C$45.00 and gave the company a neutral rating in a research report on Wednesday, June 2nd. Tudor Pickering reissued a hold rating and issued a C$49.00 price objective on shares of Imperial Oil in a research report on Wednesday, June 2nd. Finally, Scotiabank increased their price objective on Imperial Oil from C$39.00 to C$42.00 in a research report on Wednesday, June 9th. Fourteen research analysts have rated the stock with a hold rating, Imperial Oil has an average rating of Hold and a consensus price target of C$39.23.

Shares of Imperial Oil stock opened at C$39.94 on Monday. The company has a market capitalization of C$29.32 billion and a PE ratio of -22.81. The company has a quick ratio of 0.98, a current ratio of 1.49 and a debt-to-equity ratio of 24.47. The stock’s 50 day moving average is C$37.82. Imperial Oil has a 12-month low of C$14.86 and a 12-month high of C$42.36.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last announced its earnings results on Friday, April 30th. The company reported C$0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.60 by C($0.07). The business had revenue of C$7 billion during the quarter, compared to analysts’ expectations of C$6.79 billion. Analysts expect that Imperial Oil will post 3.9400001 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 1st. Shareholders of record on Thursday, June 3rd will be paid a dividend of $0.27 per share. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.22. This represents a $1.08 annualized dividend and a yield of 2.70%. The ex-dividend date is Wednesday, June 2nd. Imperial Oil’s dividend payout ratio is currently -50.26%.

About Imperial Oil

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 (TSE:IMO)

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