Imperial Oil (TSE:IMO) Lowered to “Neutral” at The Goldman Sachs Group

The Goldman Sachs Group downgraded shares of Imperial Oil (TSE:IMO) (NYSEMKT:IMO) from a buy rating to a neutral rating in a research note released on Wednesday, BayStreet.CA reports. The brokerage currently has C$86.00 price target on the stock.

Other analysts have also recently issued reports about the company. ATB Capital increased their target price on Imperial Oil from C$80.00 to C$85.00 in a research note on Friday, October 20th. National Bank Financial increased their target price on Imperial Oil from C$82.00 to C$111.00 in a research note on Thursday, October 12th. CIBC increased their target price on Imperial Oil from C$76.00 to C$85.00 and gave the stock a neutral rating in a research note on Monday, October 16th. JPMorgan Chase & Co. increased their target price on Imperial Oil from C$93.00 to C$95.00 in a research note on Thursday, November 2nd. Finally, Scotiabank increased their target price on Imperial Oil from C$76.00 to C$83.00 and gave the stock a sector perform rating in a research note on Monday, October 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of C$84.94.

Imperial Oil Stock Performance

Shares of IMO stock opened at C$75.52 on Wednesday. The company has a debt-to-equity ratio of 18.34, a current ratio of 1.38 and a quick ratio of 0.98. The stock has a market cap of C$41.91 billion, a PE ratio of 8.49, a price-to-earnings-growth ratio of 0.21 and a beta of 1.88. The stock has a 50-day moving average of C$80.16 and a 200-day moving average of C$71.86. Imperial Oil has a one year low of C$60.19 and a one year high of C$85.11.

Imperial Oil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 1st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $2.00 annualized dividend and a dividend yield of 2.65%. Imperial Oil’s dividend payout ratio is presently 22.47%.

Imperial Oil Company Profile

Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores for, and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment is involved in the transportation and refining of crude oil, blending of refined products, and the distribution and marketing of refined products.