Imperial Oil Limited (TSE:IMO) Raises Dividend to $0.72 Per Share

Imperial Oil Limited (TSE:IMO - Get Free Report) NYSEMKT: IMO announced a quarterly dividend on Wednesday, March 5th, TickerTech Dividends reports. Stockholders of record on Tuesday, April 1st will be given a dividend of 0.72 per share on Tuesday, April 1st. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Wednesday, March 5th. This is a 20.0% increase from Imperial Oil's previous quarterly dividend of $0.60.

Imperial Oil Stock Down 2.8 %

Shares of TSE IMO traded down C$2.70 during midday trading on Wednesday, reaching C$92.24. The company's stock had a trading volume of 838,589 shares, compared to its average volume of 925,889. The company has a current ratio of 1.44, a quick ratio of 0.98 and a debt-to-equity ratio of 18.04. Imperial Oil has a fifty-two week low of C$85.78 and a fifty-two week high of C$108.89. The stock has a market capitalization of C$48.15 billion, a price-to-earnings ratio of 9.91, a PEG ratio of 0.21 and a beta of 1.78. The stock has a 50 day simple moving average of C$96.96 and a 200-day simple moving average of C$99.10.

Insider Activity

In related news, Director Bradley William Corson purchased 4,800 shares of the company's stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average price of C$97.44 per share, with a total value of C$467,713.92. 71.26% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Imperial Oil from C$97.00 to C$100.00 in a report on Wednesday, November 13th. Royal Bank of Canada lifted their price objective on shares of Imperial Oil from C$99.00 to C$101.00 in a research report on Wednesday, November 6th. TD Securities lifted their price objective on shares of Imperial Oil from C$94.00 to C$97.00 and gave the stock a "hold" rating in a research report on Friday, February 21st. Wolfe Research cut shares of Imperial Oil from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 3rd. Finally, CIBC lifted their price objective on shares of Imperial Oil from C$105.00 to C$108.00 in a research report on Friday, January 17th. Ten research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Imperial Oil has an average rating of "Hold" and a consensus target price of C$104.10.

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.