Imperial Oil Limited (TSE:IMO) Receives Consensus Recommendation of “Reduce” from Brokerages

Shares of Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) have earned an average rating of “Reduce” from the ten brokerages that are currently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is C$146.08.

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price target on Imperial Oil from C$149.00 to C$158.00 in a report on Tuesday, July 14th. UBS Group boosted their price objective on Imperial Oil from C$195.00 to C$205.00 in a research note on Monday, September 14th. Scotiabank upgraded Imperial Oil to a “hold” rating in a report on Friday, June 26th. Raymond James Financial raised their target price on Imperial Oil from C$130.00 to C$140.00 and gave the company an “underperform” rating in a research note on Wednesday, September 16th. Finally, National Bank Financial cut their price target on Imperial Oil from C$214.00 to C$209.00 and set a “sector perform” rating for the company in a report on Wednesday, August 5th.

Imperial Oil Price Performance

TSE:IMO opened at C$173.74 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.38 and a debt-to-equity ratio of 17.11. The firm has a market cap of C$84.02 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 0.21 and a beta of 0.41. Imperial Oil has a 12 month low of C$114.75 and a 12 month high of C$191.76. The company’s 50-day moving average price is C$181.21 and its two-hundred day moving average price is C$175.35.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last posted its earnings results on Friday, July 31st. The company reported C$4.52 earnings per share (EPS) for the quarter. The company had revenue of C$15.98 billion during the quarter. Imperial Oil had a net margin of 7.81% and a return on equity of 18.76%. On average, equities analysts anticipate that Imperial Oil will post 8.6164609 EPS for the current fiscal year.

Imperial Oil Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, October 1st will be given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, September 4th. Imperial Oil’s dividend payout ratio is presently 37.15%.

Imperial Oil Company Profile

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.