Brokerages Set Imperial Oil Limited (TSE:IMO) Price Target at C$105.67

Shares of Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) have earned a consensus recommendation of “Reduce” from the ten analysts that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and nine have given a hold recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is C$105.67.

IMO has been the subject of several recent research reports. Wolfe Research downgraded shares of Imperial Oil from a “strong-buy” rating to a “hold” rating in a report on Friday, January 3rd. Raymond James raised their price objective on shares of Imperial Oil from C$101.50 to C$104.00 in a research note on Friday, December 13th. CIBC upped their target price on Imperial Oil from C$105.00 to C$108.00 in a research note on Friday, January 17th. TD Securities raised their price target on Imperial Oil from C$94.00 to C$97.00 and gave the stock a “hold” rating in a research report on Friday, February 21st. Finally, National Bankshares boosted their price target on Imperial Oil from C$109.00 to C$110.00 and gave the stock a “sector perform” rating in a report on Thursday, January 30th.

Imperial Oil Trading Down 1.0 %

Shares of IMO stock opened at C$103.45 on Friday. Imperial Oil has a fifty-two week low of C$86.96 and a fifty-two week high of C$108.89. 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$99.19 and a 200-day simple moving average of C$98.84. The stock has a market cap of C$54.01 billion, a P/E ratio of 11.11, a P/E/G ratio of 0.21 and a beta of 1.78.

Imperial Oil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, April 1st will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from Imperial Oil’s previous quarterly dividend of $0.60. This represents a $2.88 annualized dividend and a yield of 2.78%. Imperial Oil’s dividend payout ratio is 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.