Wolfe Research upgraded shares of Imperial Oil (TSE:IMO – Free Report) (NYSEMKT:IMO) to a strong-buy rating in a research report released on Thursday, Zacks.com reports.
A number of other brokerages have also recently weighed in on IMO. Desjardins lifted their price objective on shares of Imperial Oil from C$88.00 to C$92.00 and gave the company a hold rating in a research note on Tuesday, April 23rd. CIBC lifted their price target on Imperial Oil from C$90.00 to C$105.00 and gave the stock a neutral rating in a research note on Monday, April 22nd. Raymond James set a C$93.00 price target on Imperial Oil and gave the stock a market perform rating in a research note on Wednesday, May 29th. Royal Bank of Canada lifted their target price on Imperial Oil from C$100.00 to C$105.00 and gave the company a sector perform rating in a research note on Wednesday, May 1st. Finally, National Bankshares lifted their price target on Imperial Oil from C$90.00 to C$120.00 and gave the company a sector perform rating in a report on Friday, April 19th. Nine equities research analysts have rated the stock with a hold rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of C$99.38.
View Our Latest Report on Imperial Oil
Imperial Oil Stock Performance
Imperial Oil (TSE:IMO – Get Free Report) (NYSEMKT:IMO) last posted its earnings results on Friday, April 26th. The company reported C$2.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.00 by C$0.23. The company had revenue of C$12.28 billion for the quarter, compared to analysts’ expectations of C$15.74 billion. Imperial Oil had a return on equity of 20.78% and a net margin of 9.50%. Research analysts expect that Imperial Oil will post 9.6175299 earnings per share for the current year.
Imperial Oil Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, July 1st were issued a $0.60 dividend. The ex-dividend date was Monday, June 3rd. This represents a $2.40 annualized dividend and a yield of 2.52%. Imperial Oil’s dividend payout ratio (DPR) is currently 27.30%.
About Imperial Oil
Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment transports and refines crude oil, blends refined products, and distributes and markets of refined products.
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