Imperial Oil Limited Announces Quarterly Dividend of $0.72 (TSE:IMO)

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) announced a quarterly dividend on Wednesday, June 4th, TickerTech Dividends reports. Stockholders of record on Tuesday, July 1st will be paid a dividend of 0.72 per share on Tuesday, July 1st. This represents a $2.88 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Wednesday, June 4th.

Imperial Oil Stock Down 1.6%

TSE:IMO opened at C$97.46 on Monday. The business’s fifty day moving average price is C$95.54 and its 200 day moving average price is C$97.34. The firm has a market capitalization of C$50.88 billion, a price-to-earnings ratio of 10.47, a PEG 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. Imperial Oil has a 1-year low of C$82.98 and a 1-year high of C$108.89.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IMO. Desjardins lifted their price target on Imperial Oil from C$85.00 to C$89.00 and gave the company a “hold” rating in a report on Tuesday, May 6th. Wolfe Research upgraded shares of Imperial Oil from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 21st. Scotiabank raised shares of Imperial Oil to a “hold” rating in a research report on Wednesday, March 19th. Raymond James upgraded shares of Imperial Oil from a “market perform” rating to an “outperform” rating and dropped their price target for the stock from C$108.00 to C$104.00 in a research note on Wednesday, April 9th. Finally, The Goldman Sachs Group lowered shares of Imperial Oil from a “neutral” rating to a “sell” rating in a research note on Thursday, March 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of C$103.78.

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.