Morgan Stanley cut shares of Imperial Oil (TSE:IMO) (NYSEMKT:IMO) from an overweight rating to an equal weight rating in a research report sent to investors on Wednesday, BayStreet.CA reports. The firm currently has C$25.00 price target on the stock, up from their prior price target of C$22.00.

Other research analysts have also issued reports about the stock. National Bank Financial upped their target price on shares of Imperial Oil from C$20.00 to C$30.00 and gave the company a sector perform rating in a report on Wednesday, June 24th. Scotiabank cut their price target on shares of Imperial Oil from C$36.00 to C$23.00 in a research note on Wednesday, April 8th. Tudor Pickering & Holt set a C$25.00 price target on shares of Imperial Oil and gave the company a sell rating in a report on Tuesday, June 9th. CSFB dropped their price objective on Imperial Oil from C$27.00 to C$21.00 in a report on Thursday, April 2nd. Finally, JPMorgan Chase & Co. upped their price objective on Imperial Oil from C$15.00 to C$17.00 in a report on Wednesday, April 1st. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. Imperial Oil currently has an average rating of Hold and an average target price of C$24.22.

TSE:IMO opened at C$20.34 on Wednesday. The firm has a market cap of $15.30 billion and a price-to-earnings ratio of 8.92. The company has a current ratio of 1.35, a quick ratio of 0.85 and a debt-to-equity ratio of 23.08. The company’s 50-day moving average is C$22.33 and its two-hundred day moving average is C$25.45. Imperial Oil has a 12-month low of C$10.27 and a 12-month high of C$37.52.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last released its earnings results on Friday, May 1st. The company reported C$0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C($0.03) by C$0.10. The firm had revenue of C$6.69 billion during the quarter, compared to analysts’ expectations of C$6.44 billion. On average, equities research analysts forecast that Imperial Oil will post 0.25 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Thursday, June 4th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $0.88 dividend on an annualized basis and a yield of 4.33%. Imperial Oil’s dividend payout ratio (DPR) is 38.60%.

Imperial Oil Company Profile

Imperial Oil Limited explores for, produces, and sells crude oil and natural gas in Canada. It operates through three segments: Upstream, Downstream, and Chemical. The Upstream segment explores for and produces crude oil, natural gas, synthetic oil, and bitumen. As of December 31, 2018, this segment had 404 million oil-equivalent barrels of proved undeveloped reserves.

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Analyst Recommendations for Imperial Oil (TSE:IMO)

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