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

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

Other equities analysts have also recently issued research reports about the stock. Wolfe Research cut shares of Imperial Oil from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 3rd. Raymond James raised Imperial Oil from a "market perform" rating to an "outperform" rating and reduced their target price for the stock from C$108.00 to C$104.00 in a report on Wednesday, April 9th. Scotiabank upgraded Imperial Oil to a "hold" rating in a report on Wednesday, March 19th. CIBC raised their price objective on Imperial Oil from C$105.00 to C$108.00 in a research note on Friday, January 17th. Finally, The Goldman Sachs Group lowered shares of Imperial Oil from a "neutral" rating to a "sell" rating in a research note 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 given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of C$103.89.

Imperial Oil Stock Up 2.5 %

Shares of IMO stock traded up C$2.13 during mid-day trading on Tuesday, reaching C$88.37. 923,859 shares of the company were exchanged, compared to its average volume of 903,120. The company has a market capitalization of C$46.13 billion, a P/E ratio of 9.49, a P/E/G ratio of 0.21 and a beta of 1.78. The business's 50 day simple moving average is C$96.41 and its 200 day simple moving average is C$98.65. The company has a debt-to-equity ratio of 18.04, a quick ratio of 0.98 and a current ratio of 1.44. Imperial Oil has a fifty-two week low of C$82.98 and a fifty-two week high of C$108.89.

Imperial Oil Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, April 1st were given a $0.72 dividend. This is a boost from Imperial Oil's previous quarterly dividend of $0.60. This represents a $2.88 annualized dividend and a yield of 3.26%. The ex-dividend date was Wednesday, March 5th. Imperial Oil's dividend payout ratio (DPR) is currently 25.78%.

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.