Imperial Oil Limited (TSE:IMO) Receives C$124.18 Average Price Target from Analysts

Shares of Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) have been given an average rating of “Strong Sell” by the nine brokerages that are covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is C$130.82.

A number of brokerages have recently weighed in on IMO. Raymond James Financial upped their price target on shares of Imperial Oil from C$107.00 to C$126.00 in a report on Monday, March 30th. Desjardins upped their price target on shares of Imperial Oil from C$120.00 to C$132.00 and gave the stock a “sell” rating in a report on Friday, February 20th. Royal Bank Of Canada downgraded shares of Imperial Oil from a “sector perform” rating to an “underperform” rating and set a C$116.00 price target for the company. in a report on Monday, February 23rd. TD Securities upped their price target on shares of Imperial Oil from C$101.00 to C$110.00 and gave the stock a “sell” rating in a report on Monday, February 23rd. Finally, BMO Capital Markets downgraded shares of Imperial Oil from an “outperform” rating to a “market perform” rating and cut their price target for the stock from C$132.00 to C$129.00 in a report on Monday, December 15th.

Imperial Oil Stock Performance

Shares of TSE:IMO opened at C$180.30 on Tuesday. The company’s 50 day moving average price is C$163.56 and its two-hundred day moving average price is C$140.41. Imperial Oil has a 12-month low of C$82.98 and a 12-month high of C$185.73. The firm has a market cap of C$87.19 billion, a PE ratio of 27.82, a PEG ratio of 0.21 and a beta of 0.52. The company has a quick ratio of 0.98, a current ratio of 1.27 and a debt-to-equity ratio of 19.69.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last announced its earnings results on Friday, January 30th. The company reported C$1.97 earnings per share (EPS) for the quarter. Imperial Oil had a net margin of 7.02% and a return on equity of 14.75%. The firm had revenue of C$11.28 billion for the quarter. Equities research analysts predict that Imperial Oil will post 8.6164609 earnings per share for the current year.

Imperial Oil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Wednesday, April 1st were issued a dividend of $0.87 per share. This is a boost from Imperial Oil’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Thursday, March 5th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 1.9%. Imperial Oil’s payout ratio is currently 44.44%.

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. Imperial remains the largest refiner of petroleum products in Canada, operating three refineries with a combined processing capacity of 421 mboe/d.