Imperial Oil Limited (TSE:IMO) Receives Consensus Recommendation of “Hold” from Analysts

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) has been assigned an average rating of “Hold” from the eight ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is C$103.78.

A number of research analysts have recently commented on IMO shares. The Goldman Sachs Group lowered shares of Imperial Oil from a “neutral” rating to a “sell” rating in a research report on Thursday, March 27th. Desjardins upped their price objective on shares of Imperial Oil from C$85.00 to C$89.00 and gave the company a “hold” rating in a research report on Tuesday, May 6th. Wolfe Research upgraded shares of Imperial Oil from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 21st. Raymond James upgraded shares of Imperial Oil from a “market perform” rating to an “outperform” rating and decreased their target price for the company from C$108.00 to C$104.00 in a research report on Wednesday, April 9th. Finally, Scotiabank upgraded shares of Imperial Oil to a “hold” rating in a research report on Wednesday, March 19th.

Imperial Oil Stock Up 1.4%

Shares of IMO opened at C$100.96 on Wednesday. The company has a 50-day simple moving average of C$95.39 and a 200-day simple moving average of C$97.28. The firm has a market capitalization of C$52.71 billion, a P/E ratio of 10.84, a P/E/G ratio of 0.21 and a beta of 1.78. The company has a debt-to-equity ratio of 18.04, a quick ratio of 0.98 and a current ratio of 1.44. Imperial Oil has a 52 week low of C$82.98 and a 52 week high of C$108.89.

Imperial Oil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.72 per share. The ex-dividend date is Wednesday, June 4th. This represents a $2.88 annualized dividend and a dividend yield of 2.85%. Imperial Oil’s dividend payout ratio (DPR) is currently 25.78%.

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.