Imperial Oil (TSE:IMO) Cut to Underperform at Royal Bank Of Canada

Royal Bank Of Canada cut shares of Imperial Oil (TSE:IMO) (NYSEMKT:IMO) from a sector perform rating to an underperform rating in a research report released on Monday, MarketBeat reports. The brokerage currently has C$116.00 price objective on the stock.

Several other analysts have also issued reports on IMO. Morgan Stanley boosted their target price on Imperial Oil from C$97.00 to C$101.00 in a research note on Thursday, November 20th. TD Securities lowered their price objective on Imperial Oil from C$107.00 to C$106.00 in a research note on Tuesday, December 16th. Desjardins increased their target price on shares of Imperial Oil from C$120.00 to C$132.00 and gave the stock a “sell” rating in a research report on Friday, February 20th. JPMorgan Chase & Co. lifted their target price on shares of Imperial Oil from C$99.00 to C$108.00 in a research note on Tuesday, February 3rd. Finally, National Bank Financial upped their price target on shares of Imperial Oil from C$127.00 to C$139.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 3rd. Five equities research analysts have rated the stock with a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat.com, Imperial Oil currently has a consensus rating of “Strong Sell” and a consensus target price of C$116.20.

Imperial Oil Price Performance

Shares of TSE IMO opened at C$159.03 on Monday. The company has a market capitalization of C$76.91 billion, a PE ratio of 24.54, a PEG ratio of 0.21 and a beta of 0.95. 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 stock’s 50 day moving average price is C$138.24 and its 200-day moving average price is C$130.65. Imperial Oil has a twelve month low of C$82.98 and a twelve month high of C$169.07.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last issued its quarterly earnings results on Friday, January 30th. The company reported C$1.97 EPS for the quarter. The company had revenue of C$11.28 billion during the quarter. Imperial Oil had a return on equity of 21.23% and a net margin of 10.00%. On average, equities analysts anticipate that Imperial Oil will post 8.6164609 EPS for the current year.

Imperial Oil Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 1st. Investors of record on Thursday, January 1st were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Wednesday, December 3rd. Imperial Oil’s dividend payout ratio is currently 44.44%.

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.