TD Securities Cuts Imperial Oil (TSE:IMO) Price Target to C$106.00

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its target price lowered by TD Securities from C$107.00 to C$106.00 in a research report sent to investors on Tuesday morning,BayStreet.CA reports.

Several other equities analysts also recently commented on the company. Desjardins increased their price target on Imperial Oil from C$114.00 to C$120.00 and gave the company a “sell” rating in a report on Monday, November 24th. Raymond James Financial lowered shares of Imperial Oil from a “hold” rating to a “strong sell” rating and raised their target price for the company from C$110.00 to C$111.00 in a research note on Monday, December 8th. Royal Bank Of Canada boosted their target price on shares of Imperial Oil from C$115.00 to C$117.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 7th. BMO Capital Markets downgraded Imperial Oil from an “outperform” rating to a “market perform” rating and lowered their price target for the company from C$132.00 to C$129.00 in a research report on Monday. Finally, Cibc World Mkts lowered Imperial Oil from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Six research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, Imperial Oil presently has a consensus rating of “Reduce” and an average target price of C$112.30.

Imperial Oil Price Performance

TSE IMO opened at C$115.28 on Tuesday. Imperial Oil has a fifty-two week low of C$82.98 and a fifty-two week high of C$141.17. The stock’s 50-day moving average is C$129.00 and its two-hundred day moving average is C$120.94. The firm has a market cap of C$57.28 billion, a P/E ratio of 14.72, a price-to-earnings-growth ratio of 0.21 and a beta of 1.04. 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 (TSE:IMO) (NYSEMKT:IMO) last issued its quarterly earnings data on Friday, October 31st. The company reported C$2.17 EPS for the quarter. Imperial Oil had a return on equity of 21.23% and a net margin of 10.00%.The business had revenue of C$11.99 billion for the quarter. On average, analysts anticipate that Imperial Oil will post 8.6164609 earnings per share for the current fiscal year.

Imperial Oil Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Thursday, January 1st will be issued a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $2.88 annualized dividend and a yield of 2.5%. Imperial Oil’s dividend payout ratio is 35.25%.

About Imperial Oil

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.