Imperial Oil (TSE:IMO) Downgraded by BMO Capital Markets to “Market Perform”

BMO Capital Markets lowered shares of Imperial Oil (TSE:IMO) (NYSEMKT:IMO) from an outperform rating to a market perform rating in a research report sent to investors on Monday, MarketBeat.com reports. They currently have C$129.00 target price on the stock, down from their previous target price of C$132.00.

Several other analysts also recently commented on IMO. Raymond James Financial downgraded shares of Imperial Oil from a “hold” rating to a “strong sell” rating and boosted their target price for the stock from C$110.00 to C$111.00 in a research report on Monday, December 8th. CIBC downgraded shares of Imperial Oil from a “neutral” rating to an “underperform” rating and raised their price objective for the stock from C$108.00 to C$110.00 in a research note on Wednesday, October 15th. Morgan Stanley upped their price target on Imperial Oil from C$97.00 to C$101.00 in a report on Thursday, November 20th. TD Securities raised their price objective on shares of Imperial Oil from C$104.00 to C$107.00 and gave the stock a “sell” rating in a report on Tuesday, November 4th. Finally, JPMorgan Chase & Co. boosted their price target on Imperial Oil from C$101.00 to C$110.00 in a research note on Thursday, October 23rd. Six analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of C$112.50.

Imperial Oil Trading Down 2.1%

Shares of Imperial Oil stock opened at C$123.82 on Monday. Imperial Oil has a fifty-two week low of C$82.98 and a fifty-two week high of C$141.17. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 18.04. The business has a fifty day simple moving average of C$129.51 and a 200-day simple moving average of C$120.87. The firm has a market cap of C$61.52 billion, a price-to-earnings ratio of 15.81, a price-to-earnings-growth ratio of 0.21 and a beta of 1.04.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last issued its earnings results on Friday, October 31st. The company reported C$2.17 earnings per share (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, equities analysts forecast that Imperial Oil will post 8.6164609 EPS for the current fiscal year.

Imperial Oil Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Thursday, January 1st will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.3%. Imperial Oil’s dividend payout ratio (DPR) is currently 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.