Imperial Oil (TSE:IMO) Upgraded at Wolfe Research

Wolfe Research upgraded shares of Imperial Oil (TSE:IMO) (NYSEMKT:IMO) from a hold rating to a strong-buy rating in a report published on Monday,Zacks.com reports.

Several other analysts have also issued reports on the stock. Desjardins reduced their target price on shares of Imperial Oil from C$91.00 to C$85.00 and set a “hold” rating for the company in a research note on Tuesday, April 15th. National Bankshares boosted their price target on shares of Imperial Oil from C$109.00 to C$110.00 and gave the stock a “sector perform” rating in a report on Thursday, January 30th. Raymond James upgraded shares of Imperial Oil from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from C$108.00 to C$104.00 in a research note on Wednesday, April 9th. Scotiabank upgraded Imperial Oil to a “hold” rating in a research note on Wednesday, March 19th. Finally, CIBC upped their target price on Imperial Oil from C$105.00 to C$108.00 in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of C$103.33.

Imperial Oil Stock Performance

Shares of Imperial Oil stock opened at C$89.62 on Monday. The company has a market cap of C$46.79 billion, a PE ratio of 9.63, a price-to-earnings-growth ratio of 0.21 and a beta of 1.78. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 18.04. Imperial Oil has a 52 week low of C$82.98 and a 52 week high of C$108.89. The business has a 50 day moving average price of C$96.19 and a 200-day moving average price of C$98.60.

Imperial Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, April 1st were paid a $0.72 dividend. This is an increase from Imperial Oil’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $2.88 annualized dividend and a yield of 3.21%. Imperial Oil’s dividend payout ratio is presently 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.