Imperial Oil (TSE:IMO) Posts Quarterly Earnings Results

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) posted its earnings results on Friday. The company reported C$4.52 earnings per share (EPS) for the quarter, FiscalAI reports. Imperial Oil had a return on equity of 13.38% and a net margin of 6.13%.The company had revenue of C$16.06 billion during the quarter.

Imperial Oil Stock Up 0.5%

Imperial Oil stock traded up C$0.91 during mid-day trading on Friday, reaching C$181.75. 1,082,765 shares of the company’s stock were exchanged, compared to its average volume of 787,909. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 18.53. Imperial Oil has a twelve month low of C$113.01 and a twelve month high of C$191.76. The company has a market cap of C$87.89 billion, a P/E ratio of 30.81, a P/E/G ratio of 0.21 and a beta of 0.39. The company has a fifty day moving average of C$169.44 and a 200-day moving average of C$166.46.

Imperial Oil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, July 1st were issued 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 1.9%. Imperial Oil’s dividend payout ratio is 51.36%.

Analysts Set New Price Targets

Several brokerages have weighed in on IMO. JPMorgan Chase & Co. increased their target price on shares of Imperial Oil from C$149.00 to C$158.00 in a research note on Tuesday, July 14th. TD dropped their target price on shares of 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. Royal Bank Of Canada boosted their target price on Imperial Oil from C$116.00 to C$124.00 and gave the company an “underperform” rating in a research report on Wednesday, April 8th. Desjardins set a C$160.00 price target on Imperial Oil and gave the stock a “hold” rating in a research note on Friday, July 17th. Finally, National Bank Financial raised their price target on Imperial Oil from C$212.00 to C$214.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of C$142.45.

Insider Activity at Imperial Oil

In other news, insider Ian Robert Laing sold 4,100 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of C$176.63, for a total transaction of C$724,183.00. Insiders have sold a total of 6,569 shares of company stock valued at $1,144,955 in the last three months. Insiders own 71.26% of the company’s stock.

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.