Imperial Oil Limited (TSE:IMO) Receives Average Rating of “Reduce” from Brokerages

Shares of Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) have earned a consensus recommendation of “Reduce” from the ten brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and nine have given a hold rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is C$105.67.

IMO has been the topic of several research analyst reports. Wolfe Research lowered Imperial Oil from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 3rd. The Goldman Sachs Group downgraded shares of Imperial Oil from a “neutral” rating to a “sell” rating in a research note on Thursday. National Bankshares raised their target price on shares of Imperial Oil from C$109.00 to C$110.00 and gave the company a “sector perform” rating in a research note on Thursday, January 30th. Raymond James upped their price target on shares of Imperial Oil from C$101.50 to C$104.00 in a research report on Friday, December 13th. Finally, Scotiabank raised Imperial Oil to a “hold” rating in a research report on Wednesday, March 19th.

Imperial Oil Trading Down 1.0 %

Shares of IMO opened at C$103.45 on Friday. Imperial Oil has a twelve month low of C$86.96 and a twelve month high of C$108.89. The firm has a market capitalization of C$54.01 billion, a P/E ratio of 11.11, a price-to-earnings-growth ratio of 0.21 and a beta of 1.78. The company has a current ratio of 1.44, a quick ratio of 0.98 and a debt-to-equity ratio of 18.04. The stock’s fifty day simple moving average is C$99.19 and its 200 day simple moving average is C$98.84.

Imperial Oil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.78%. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.60. The ex-dividend date is Wednesday, March 5th. Imperial Oil’s payout ratio is presently 25.78%.

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.