Imperial Oil (TSE:IMO) Downgraded by Wolfe Research to “Hold”

Wolfe Research lowered shares of Imperial Oil (TSE:IMO) (NYSEMKT:IMO) from a strong-buy rating to a hold rating in a research note issued to investors on Friday,Zacks.com reports.

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. lifted their price target on Imperial Oil from C$97.00 to C$100.00 in a research report on Wednesday, November 13th. BMO Capital Markets lifted their target price on Imperial Oil from C$115.00 to C$120.00 in a report on Friday, October 4th. Royal Bank of Canada increased their price target on shares of Imperial Oil from C$99.00 to C$101.00 in a report on Wednesday, November 6th. Raymond James raised their price target on shares of Imperial Oil from C$101.50 to C$104.00 in a research report on Friday, December 13th. Finally, TD Securities upped their price objective on shares of Imperial Oil from C$93.00 to C$96.00 and gave the company a “hold” rating in a report on Friday, December 13th. Ten investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of C$103.90.

Imperial Oil Stock Up 0.1 %

Imperial Oil stock opened at C$90.02 on Friday. Imperial Oil has a 1-year low of C$73.81 and a 1-year high of C$108.89. The business has a fifty day moving average price of C$99.43 and a 200-day moving average price of C$98.13. The company has a debt-to-equity ratio of 18.27, a current ratio of 1.40 and a quick ratio of 0.98. The stock has a market capitalization of C$48.24 billion, a price-to-earnings ratio of 9.44, a PEG ratio of 0.21 and a beta of 1.78.

Imperial Oil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Wednesday, January 1st were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.67%. Imperial Oil’s payout ratio is currently 25.16%.

Insiders Place Their Bets

In other Imperial Oil news, Director Bradley William Corson acquired 4,800 shares of the stock in a transaction dated Thursday, December 12th. The stock was acquired at an average price of C$97.44 per share, with a total value of C$467,713.92. 71.26% of the stock is owned by insiders.

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.