Imperial Oil Limited (TSE:IMO) Receives C$103.90 Consensus Target Price from Brokerages

Shares of Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) have been assigned an average recommendation of “Hold” from the ten brokerages that are currently covering the company, MarketBeat reports. Ten research analysts have rated the stock with a hold rating. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is C$103.90.

Several equities research analysts have weighed in on the company. Wolfe Research cut Imperial Oil from a “strong-buy” rating to a “hold” rating in a report on Friday, January 3rd. BMO Capital Markets lifted their price target on shares of Imperial Oil from C$115.00 to C$120.00 in a report on Friday, October 4th. Scotiabank lowered shares of Imperial Oil from an “outperform” rating to a “sector perform” rating and set a C$110.00 price objective for the company. in a report on Wednesday, September 25th. Raymond James lifted their target price on shares of Imperial Oil from C$101.50 to C$104.00 in a research note on Friday, December 13th. Finally, TD Securities increased their price target on shares of Imperial Oil from C$93.00 to C$96.00 and gave the stock a “hold” rating in a research note on Friday, December 13th.

Imperial Oil Stock Performance

Imperial Oil stock opened at C$94.53 on Friday. Imperial Oil has a 1-year low of C$73.81 and a 1-year high of C$108.89. The firm has a market cap of C$50.65 billion, a P/E ratio of 9.91, a P/E/G ratio of 0.21 and a beta of 1.78. The company has a current ratio of 1.40, a quick ratio of 0.98 and a debt-to-equity ratio of 18.27. The firm has a 50-day moving average of C$98.33 and a 200-day moving average of C$98.27.

Imperial Oil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Wednesday, January 1st were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $2.40 annualized dividend and a dividend yield of 2.54%. Imperial Oil’s payout ratio is 25.16%.

Insider Transactions at Imperial Oil

In other news, Director Bradley William Corson purchased 4,800 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average price of C$97.44 per share, for a total transaction of C$467,713.92. Insiders own 71.26% of the company’s stock.

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.