Imperial Oil (TSE:IMO) Announces Quarterly Earnings Results

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) announced its quarterly earnings results on Friday. The company reported C$1.97 earnings per share (EPS) for the quarter, FiscalAI reports. Imperial Oil had a return on equity of 21.23% and a net margin of 10.00%.

Imperial Oil Price Performance

TSE:IMO opened at C$137.57 on Friday. The stock has a 50 day moving average of C$128.52 and a two-hundred day moving average of C$125.25. Imperial Oil has a 12 month low of C$82.98 and a 12 month high of C$144.20. The firm has a market cap of C$68.35 billion, a P/E ratio of 17.57, a price-to-earnings-growth ratio of 0.21 and a beta of 0.89. 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 Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 1st. Investors of record on Thursday, January 1st were given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Wednesday, December 3rd. Imperial Oil’s dividend payout ratio is 35.25%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. TD Securities decreased their target price on shares of Imperial Oil from C$107.00 to C$106.00 in a research note on Tuesday, December 16th. Cibc World Mkts cut shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. JPMorgan Chase & Co. upped their price objective on shares of Imperial Oil from C$101.00 to C$110.00 in a research report on Thursday, October 23rd. Desjardins raised their target price on Imperial Oil from C$114.00 to C$120.00 and gave the company a “sell” rating in a research report on Monday, November 24th. Finally, National Bankshares upped their price target on Imperial Oil from C$125.00 to C$127.00 and gave the stock a “sector perform” rating in a report on Friday, January 9th. Six research analysts have rated the stock with a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat.com, Imperial Oil presently has a consensus rating of “Reduce” and a consensus price target of C$113.90.

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. Imperial remains the largest refiner of petroleum products in Canada, operating three refineries with a combined processing capacity of 421 mboe/d.