Desjardins Cuts Imperial Oil (TSE:IMO) Price Target to C$85.00

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its price objective reduced by Desjardins from C$91.00 to C$85.00 in a research note issued to investors on Tuesday morning,BayStreet.CA reports. They currently have a hold rating on the stock.

A number of other research firms have also commented on IMO. National Bankshares raised their price objective on shares of Imperial Oil from C$109.00 to C$110.00 and gave the company a “sector perform” rating in a research note on Thursday, January 30th. TD Securities raised their target price on shares of Imperial Oil from C$94.00 to C$97.00 and gave the stock a “hold” rating in a report on Friday, February 21st. CIBC raised their price objective on Imperial Oil from C$105.00 to C$108.00 in a research note on Friday, January 17th. Wolfe Research cut Imperial Oil from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 3rd. Finally, The Goldman Sachs Group downgraded shares of Imperial Oil from a “neutral” rating to a “sell” rating in a research report on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of C$103.89.

Imperial Oil Stock Up 2.5 %

Shares of TSE:IMO opened at C$88.37 on Tuesday. Imperial Oil has a 1-year low of C$82.98 and a 1-year high of C$108.89. The company’s fifty day moving average is C$96.67 and its two-hundred day moving average is C$98.72. The company has a debt-to-equity ratio of 18.04, a quick ratio of 0.98 and a current ratio of 1.44. The stock has a market capitalization of C$46.13 billion, a price-to-earnings ratio of 9.49, a price-to-earnings-growth ratio of 0.21 and a beta of 1.78.

Imperial Oil Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st were paid a $0.72 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $2.88 dividend on an annualized basis and a yield of 3.26%. This is an increase from Imperial Oil’s previous quarterly dividend of $0.60. Imperial Oil’s payout ratio is 25.78%.

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.