Imperial Oil (TSE:IMO) Posts Earnings Results

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) issued its quarterly earnings data on Friday. The company reported C$1.94 earnings per share for the quarter, FiscalAI reports. Imperial Oil had a return on equity of 14.75% and a net margin of 7.02%.The business had revenue of C$12.45 billion for the quarter.

Imperial Oil Stock Performance

IMO traded down C$7.36 on Friday, hitting C$174.60. 1,448,854 shares of the stock traded hands, compared to its average volume of 876,092. The business has a fifty day moving average price of C$171.45 and a two-hundred day moving average price of C$146.20. The company has a current ratio of 1.27, a quick ratio of 0.98 and a debt-to-equity ratio of 19.69. The firm has a market capitalization of C$84.44 billion, a PE ratio of 26.94, a P/E/G ratio of 0.21 and a beta of 0.52. Imperial Oil has a 52 week low of C$92.10 and a 52 week high of C$185.73.

Imperial Oil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Wednesday, April 1st were paid a dividend of $0.87 per share. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.72. This represents a $3.48 annualized dividend and a yield of 2.0%. The ex-dividend date was Thursday, March 5th. Imperial Oil’s dividend payout ratio is presently 44.44%.

Analyst Upgrades and Downgrades

Several brokerages have commented on IMO. TD Securities increased their price target on Imperial Oil from C$101.00 to C$110.00 and gave the company a “sell” rating in a report on Monday, February 23rd. National Bank Financial upped their price objective on shares of Imperial Oil from C$139.00 to C$212.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 31st. Raymond James Financial raised their target price on shares of Imperial Oil from C$107.00 to C$126.00 in a research note on Monday, March 30th. Desjardins boosted their target price on shares of Imperial Oil from C$120.00 to C$132.00 and gave the stock a “sell” rating in a research report on Friday, February 20th. Finally, JPMorgan Chase & Co. upped their price target on shares of Imperial Oil from C$108.00 to C$155.00 in a report on Wednesday, April 8th. Four analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Strong Sell” and a consensus price target of C$137.58.

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.