Imperial Oil (TSE:IMO) Price Target Raised to C$107.00

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its price objective hoisted by TD Securities from C$104.00 to C$107.00 in a report issued on Tuesday morning,BayStreet.CA reports. TD Securities currently has a sell rating on the stock.

Several other brokerages have also recently issued reports on IMO. Cibc World Mkts cut Imperial Oil from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Wolfe Research downgraded Imperial Oil from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 23rd. Raymond James Financial boosted their price target on shares of Imperial Oil from C$109.00 to C$110.00 in a research report on Monday. CIBC downgraded shares of Imperial Oil from a “neutral” rating to an “underperform” rating and boosted their target price for the stock from C$108.00 to C$110.00 in a report on Wednesday, October 15th. Finally, Tudor Pickering lowered Imperial Oil from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 25th. Six research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, Imperial Oil currently has a consensus rating of “Reduce” and a consensus price target of C$107.88.

Imperial Oil Stock Performance

TSE:IMO opened at C$128.60 on Tuesday. Imperial Oil has a 12-month low of C$82.98 and a 12-month high of C$132.08. 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 has a market capitalization of C$63.90 billion, a P/E ratio of 16.42, a P/E/G ratio of 0.21 and a beta of 0.98. The stock has a 50-day moving average price of C$125.41 and a 200 day moving average price of C$113.69.

Imperial Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Wednesday, October 1st were issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 2.3%. The ex-dividend date was Thursday, September 4th. This is an increase from Imperial Oil’s previous quarterly dividend of $0.72. Imperial Oil’s dividend payout ratio (DPR) is 35.25%.

Imperial Oil Company Profile

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.