Imperial Oil (TSE:IMO) Rating Lowered to Sector Perform at Scotiabank

Scotiabank cut shares of Imperial Oil (TSE:IMO) (NYSEMKT:IMO) from an outperform rating to a sector perform rating in a research note issued to investors on Wednesday morning, Marketbeat.com reports. Scotiabank currently has C$110.00 target price on the stock.

IMO has been the topic of several other reports. Raymond James set a C$93.00 target price on Imperial Oil and gave the stock a market perform rating in a report on Wednesday, May 29th. Royal Bank of Canada cut their price objective on Imperial Oil from C$108.00 to C$99.00 in a research note on Tuesday, September 17th. TD Securities increased their target price on shares of Imperial Oil from C$91.00 to C$92.00 and gave the company a hold rating in a research report on Thursday, August 8th. Wolfe Research upgraded shares of Imperial Oil to a strong-buy rating in a research report on Thursday, July 18th. Finally, Desjardins increased their price objective on shares of Imperial Oil from C$92.00 to C$101.00 and gave the stock a hold rating in a research report on Tuesday, July 23rd. Ten investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of C$99.08.

Imperial Oil Stock Performance

Imperial Oil stock opened at C$94.82 on Wednesday. The business has a 50 day moving average of C$97.25 and a 200-day moving average of C$95.06. The company has a market capitalization of C$50.81 billion, a P/E ratio of 9.94, a P/E/G ratio of 0.21 and a beta of 1.80. Imperial Oil has a 1 year low of C$72.03 and a 1 year high of C$106.09. The company has a debt-to-equity ratio of 18.27, a current ratio of 1.40 and a quick ratio of 0.98.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last announced its quarterly earnings results on Friday, August 2nd. The company reported C$2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.94 by C$0.17. The firm had revenue of C$13.38 billion during the quarter, compared to analysts’ expectations of C$14.30 billion. Imperial Oil had a net margin of 10.09% and a return on equity of 22.17%. On average, equities research analysts predict that Imperial Oil will post 8.0042992 earnings per share for the current year.

Imperial Oil Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, October 1st will be issued a dividend of $0.60 per share. The ex-dividend date is Wednesday, September 4th. This represents a $2.40 annualized dividend and a dividend yield of 2.53%. Imperial Oil’s dividend payout ratio is currently 25.16%.

About Imperial Oil

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 and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment transports and refines crude oil, blends refined products, and distributes and markets of refined products.