Imperial Oil (TSE:IMO) Downgraded by Royal Bank Of Canada to Underperform

Royal Bank Of Canada downgraded shares of Imperial Oil (TSE:IMO) (NYSEMKT:IMO) from a sector perform rating to an underperform rating in a report issued on Monday morning, Marketbeat reports. The brokerage currently has C$116.00 target price on the stock.

A number of other research firms have also recently issued reports on IMO. National Bank Financial boosted their price objective on Imperial Oil from C$127.00 to C$139.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 3rd. Morgan Stanley increased their price objective on shares of Imperial Oil from C$97.00 to C$101.00 in a research note on Thursday, November 20th. BMO Capital Markets downgraded shares of Imperial Oil from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from C$132.00 to C$129.00 in a report on Monday, December 15th. TD Securities lowered their target price on shares of Imperial Oil from C$107.00 to C$106.00 in a research note on Tuesday, December 16th. Finally, Raymond James Financial increased their price target on shares of Imperial Oil from C$106.00 to C$107.00 and gave the stock an “underperform” rating in a research report on Monday, February 2nd. Five investment analysts have rated the stock with a Hold rating and six have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Strong Sell” and a consensus price target of C$116.20.

Imperial Oil Stock Performance

TSE:IMO opened at C$162.50 on Monday. The firm’s 50-day moving average is C$136.58 and its 200-day moving average is C$130.17. The company has a market cap of C$78.59 billion, a price-to-earnings ratio of 25.08, a PEG ratio of 0.21 and a beta of 0.95. 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$169.07.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last released its earnings results on Friday, January 30th. The company reported C$1.97 earnings per share for the quarter. The business had revenue of C$11.28 billion for the quarter. Imperial Oil had a return on equity of 21.23% and a net margin of 10.00%. Equities research analysts anticipate that Imperial Oil will post 8.6164609 earnings per share for the current year.

Imperial Oil Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 1st. Investors of record on Thursday, January 1st were issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Wednesday, December 3rd. Imperial Oil’s dividend payout ratio (DPR) is currently 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.