Imperial Oil (TSE:IMO) Price Target Raised to C$124.00 at Royal Bank Of Canada

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its target price raised by Royal Bank Of Canada from C$116.00 to C$124.00 in a research note published on Wednesday,BayStreet.CA reports. The brokerage currently has an underperform rating on the stock.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of Imperial Oil from C$108.00 to C$155.00 in a report on Wednesday. UBS Group upped their price objective on shares of Imperial Oil from C$155.00 to C$185.00 in a report on Monday, March 16th. BMO Capital Markets lowered shares of Imperial Oil from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from C$132.00 to C$129.00 in a report on Monday, December 15th. Raymond James Financial upped their price objective on shares of Imperial Oil from C$107.00 to C$126.00 in a report on Monday, March 30th. Finally, National Bank Financial upped their price objective on shares of Imperial Oil from C$139.00 to C$212.00 and gave the company a “sector perform” rating in a report on Tuesday, March 31st. Four equities research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Strong Sell” and a consensus target price of C$135.82.

Imperial Oil Trading Down 2.4%

Shares of IMO opened at C$179.91 on Wednesday. The company has a current ratio of 1.27, a quick ratio of 0.98 and a debt-to-equity ratio of 19.69. Imperial Oil has a 12-month low of C$82.98 and a 12-month high of C$185.73. The firm has a 50-day moving average price of C$165.24 and a 200 day moving average price of C$141.09. The firm has a market capitalization of C$87.00 billion, a P/E ratio of 27.76, a P/E/G ratio of 0.21 and a beta of 0.52.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last announced its quarterly earnings data on Friday, January 30th. The company reported C$1.97 earnings per share (EPS) for the quarter. Imperial Oil had a net margin of 7.02% and a return on equity of 14.75%. The firm had revenue of C$11.28 billion during the quarter. Sell-side analysts forecast that Imperial Oil will post 8.6164609 EPS for the current year.

Imperial Oil Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Wednesday, April 1st were paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 1.9%. This is a boost from Imperial Oil’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Thursday, March 5th. Imperial Oil’s payout ratio is 44.44%.

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. Imperial remains the largest refiner of petroleum products in Canada, operating three refineries with a combined processing capacity of 421 mboe/d.