Imperial Oil (TSE:IMO) Cut to “Hold” at Wolfe Research

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

Several other research firms have also recently weighed in on IMO. BMO Capital Markets increased their price target on shares of Imperial Oil from C$115.00 to C$120.00 in a research note on Friday, October 4th. National Bankshares reduced their target price on shares of Imperial Oil from C$115.00 to C$112.00 in a report on Friday, September 27th. JPMorgan Chase & Co. increased their target price on shares of Imperial Oil from C$97.00 to C$100.00 in a report on Wednesday, November 13th. TD Securities increased their target price on shares of Imperial Oil from C$93.00 to C$96.00 and gave the stock a “hold” rating in a report on Friday, December 13th. Finally, Scotiabank lowered shares of Imperial Oil from an “outperform” rating to a “sector perform” rating and set a C$110.00 target price on the stock. in a report on Wednesday, September 25th. Ten research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$103.90.

Imperial Oil Stock Up 0.1 %

Shares of TSE IMO opened at C$90.02 on Friday. The company has a 50-day moving average of C$99.14 and a 200 day moving average of C$98.21. Imperial Oil has a 12-month low of C$73.81 and a 12-month high of C$108.89. The company has a current ratio of 1.40, a quick ratio of 0.98 and a debt-to-equity ratio of 18.27. The stock has a market cap of C$48.24 billion, a PE ratio of 9.44, a P/E/G ratio of 0.21 and a beta of 1.78.

Imperial Oil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Wednesday, January 1st were given a $0.60 dividend. The ex-dividend date 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%.

Insider Activity at Imperial Oil

In other news, Director Bradley William Corson acquired 4,800 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were purchased at an average cost of C$97.44 per share, for a total transaction of C$467,713.92. 71.26% of the stock is currently 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.