Imperial Oil (TSE:IMO) Cut to “Sell” at TD Securities

TD Securities downgraded shares of Imperial Oil (TSE:IMO) (NYSEMKT:IMO) from a hold rating to a sell rating in a research report released on Tuesday, Marketbeat reports. They currently have C$104.00 price target on the stock, up from their previous price target of C$102.00.

Other research analysts have also recently issued reports about the stock. Desjardins cut shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 3rd. Royal Bank Of Canada lifted their price target on shares of Imperial Oil from C$108.00 to C$115.00 and gave the company a “sector perform” rating in a research report on Thursday, September 25th. Scotiabank increased their price target on shares of Imperial Oil from C$100.00 to C$110.00 in a report on Friday, July 11th. Tudor Pickering cut shares of Imperial Oil from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 25th. Finally, Wolfe Research lowered Imperial Oil from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 23rd. Seven research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of C$107.00.

Imperial Oil Trading Down 0.7%

Shares of Imperial Oil stock opened at C$124.68 on Tuesday. The company has a debt-to-equity ratio of 18.04, a current ratio of 1.44 and a quick ratio of 0.98. Imperial Oil has a 1 year low of C$82.98 and a 1 year high of C$132.08. The firm has a market cap of C$63.47 billion, a PE ratio of 13.75, a PEG ratio of 0.21 and a beta of 1.21. The company has a 50 day simple moving average of C$121.79 and a two-hundred day simple moving average of C$108.47.

Imperial Oil Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Wednesday, October 1st were given a dividend of $0.74 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, September 4th. This represents a $2.96 dividend on an annualized basis and a yield of 2.4%. Imperial Oil’s dividend payout ratio is presently 29.11%.

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.