Scotia Cuts Imperial Oil (TSE:IMO) Price Target to C$156.00

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its price target cut by Scotia from C$159.00 to C$156.00 in a research report sent to investors on Wednesday,BayStreet.CA reports. They currently have a sector perform rating on the stock.

A number of other analysts also recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Imperial Oil from C$149.00 to C$158.00 in a report on Tuesday, July 14th. Desjardins set a C$160.00 price objective on Imperial Oil and gave the company a “hold” rating in a research note on Friday, July 17th. National Bank Financial increased their price objective on shares of Imperial Oil from C$212.00 to C$214.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 8th. TD dropped their price target on Imperial Oil from C$156.00 to C$150.00 and set a “buy” rating for the company in a report on Wednesday, July 22nd. Finally, Royal Bank Of Canada boosted their price target on Imperial Oil from C$116.00 to C$124.00 and gave the company an “underperform” rating in a research note on Wednesday, April 8th. Five investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of C$143.25.

Imperial Oil Price Performance

Shares of IMO opened at C$174.21 on Wednesday. The stock’s 50-day moving average price is C$169.93 and its two-hundred day moving average price is C$168.10. The company has a current ratio of 1.38, a quick ratio of 0.98 and a debt-to-equity ratio of 18.46. The stock has a market cap of C$84.25 billion, a P/E ratio of 20.35, a price-to-earnings-growth ratio of 0.21 and a beta of 0.40. Imperial Oil has a 1 year low of C$114.02 and a 1 year high of C$191.76.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last announced its quarterly earnings results on Friday, July 31st. The company reported C$4.52 earnings per share for the quarter. Imperial Oil had a net margin of 7.81% and a return on equity of 19.13%. The company had revenue of C$15.98 billion for the quarter. On average, equities analysts predict that Imperial Oil will post 8.6164609 earnings per share for the current year.

Imperial Oil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, July 1st were given a dividend of $0.87 per share. The ex-dividend date was Thursday, June 4th. This represents a $3.48 dividend on an annualized basis and a yield of 2.0%. Imperial Oil’s payout ratio is currently 37.15%.

Insider Buying and Selling at Imperial Oil

In other news, insider Ian Robert Laing sold 4,100 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of C$176.63, for a total value of C$724,183.00. Company 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. Imperial remains the largest refiner of petroleum products in Canada, operating three refineries with a combined processing capacity of 421 mboe/d.