Imperial Oil Limited (TSE:IMO) Receives Consensus Rating of “Hold” from Brokerages

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) has been assigned an average recommendation of “Hold” from the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a hold rating. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is C$105.67.

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

Imperial Oil Price Performance

Shares of TSE IMO opened at C$101.97 on Friday. The firm’s 50-day moving average price is C$98.52 and its 200-day moving average price is C$98.71. Imperial Oil has a 1-year low of C$86.96 and a 1-year high of C$108.89. The firm has a market capitalization of C$53.23 billion, a P/E ratio of 10.95, a P/E/G ratio of 0.21 and a beta of 1.78. The company has a current ratio of 1.44, a quick ratio of 0.98 and a debt-to-equity ratio of 18.04.

Imperial Oil Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st will be paid a $0.72 dividend. The ex-dividend date is Wednesday, March 5th. This is a boost from Imperial Oil’s previous quarterly dividend of $0.60. This represents a $2.88 annualized dividend and a yield of 2.82%. Imperial Oil’s dividend payout ratio is currently 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.