Imperial Oil (TSE:IMO) PT Lowered to C$99.00 at Royal Bank of Canada

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its price target cut by Royal Bank of Canada from C$108.00 to C$99.00 in a research report released on Tuesday, BayStreet.CA reports.

IMO has been the subject of several other research reports. Wolfe Research upgraded Imperial Oil to a strong-buy rating in a research note on Thursday, July 18th. 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. TD Securities upped their price objective on Imperial Oil from C$91.00 to C$92.00 and gave the stock a hold rating in a report on Thursday, August 8th. Desjardins upped their price objective on Imperial Oil from C$92.00 to C$101.00 and gave the stock a hold rating in a report on Tuesday, July 23rd. Finally, Scotiabank dropped their price objective on Imperial Oil from C$111.00 to C$110.00 in a report on Friday, July 12th. Nine equities research analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Imperial Oil has a consensus rating of Hold and an average price target of C$99.69.

Imperial Oil Price Performance

Shares of TSE IMO opened at C$91.48 on Tuesday. The company has a current ratio of 1.40, a quick ratio of 0.98 and a debt-to-equity ratio of 18.27. Imperial Oil has a twelve month low of C$72.03 and a twelve month high of C$106.09. The stock has a 50 day moving average of C$97.52 and a two-hundred day moving average of C$94.75. The stock has a market cap of C$49.02 billion, a P/E ratio of 9.59, a P/E/G ratio of 0.21 and a beta of 1.80.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last released its quarterly earnings results on Friday, August 2nd. The company reported C$2.11 EPS for the quarter, topping the consensus estimate of C$1.94 by C$0.17. Imperial Oil had a return on equity of 22.17% and a net margin of 10.09%. The business had revenue of C$13.38 billion during the quarter, compared to analysts’ expectations of C$14.30 billion.

Imperial Oil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, October 1st will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.62%. The ex-dividend date is Wednesday, September 4th. Imperial Oil’s dividend payout ratio (DPR) is 25.16%.

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.