Imperial Oil (TSE:IMO) Price Target Raised to C$104.00

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its price target lifted by Raymond James from C$101.50 to C$104.00 in a research report report published on Friday morning,BayStreet.CA reports.

Several other research firms also recently commented on IMO. Scotiabank downgraded shares of Imperial Oil from an “outperform” rating to a “sector perform” rating and set a C$110.00 target price for the company. in a research report on Wednesday, September 25th. Royal Bank of Canada increased their target price on shares of Imperial Oil from C$99.00 to C$101.00 in a research report on Wednesday, November 6th. TD Securities raised their target price on Imperial Oil from C$93.00 to C$96.00 and gave the company a “hold” rating in a report on Friday. BMO Capital Markets upped their price target on Imperial Oil from C$115.00 to C$120.00 in a research note on Friday, October 4th. Finally, National Bankshares cut their price objective on Imperial Oil from C$115.00 to C$112.00 in a research note on Friday, September 27th. Nine analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of C$103.90.

Imperial Oil Stock Down 1.1 %

Shares of Imperial Oil stock opened at C$96.00 on Friday. The stock has a 50-day simple moving average of C$103.73 and a 200-day simple moving average of C$98.33. Imperial Oil has a 52-week low of C$73.67 and a 52-week high of C$108.89. The firm has a market cap of C$51.44 billion, a price-to-earnings ratio of 10.06, a P/E/G ratio of 0.21 and a beta of 1.78. The company has a debt-to-equity ratio of 18.27, a current ratio of 1.40 and a quick ratio of 0.98.

Imperial Oil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Wednesday, January 1st will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Tuesday, December 3rd. Imperial Oil’s dividend payout ratio (DPR) is currently 25.16%.

Insider Transactions at Imperial Oil

In related news, Director Bradley William Corson acquired 4,800 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were bought at an average price of C$97.44 per share, for a total transaction of C$467,713.92. Corporate insiders own 71.26% of the company’s stock.

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.