Scotiabank Lowers Imperial Oil (TSE:IMO) to Sector Perform

Scotiabank downgraded shares of Imperial Oil (TSE:IMO - Free Report) NYSEMKT: IMO from an outperform rating to a sector perform rating in a report issued on Wednesday, BayStreet.CA reports. The firm currently has C$110.00 price target on the stock.

A number of other analysts have also recently commented on the stock. Royal Bank of Canada dropped their price target on shares of Imperial Oil from C$108.00 to C$99.00 in a research note on Tuesday, September 17th. Raymond James set a C$93.00 target price on shares of Imperial Oil and gave the stock a market perform rating in a report on Wednesday, May 29th. Desjardins upped their target price on shares of Imperial Oil from C$92.00 to C$101.00 and gave the stock a hold rating in a report on Tuesday, July 23rd. Wolfe Research raised shares of Imperial Oil to a strong-buy rating in a report on Thursday, July 18th. Finally, TD Securities upped their target price on shares of Imperial Oil from C$91.00 to C$92.00 and gave the stock a hold rating in a report on Thursday, August 8th. Ten equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of C$99.69.

Imperial Oil Stock Performance

Shares of IMO stock traded down C$1.02 during trading on Wednesday, reaching C$94.90. 1,062,765 shares of the company's stock traded hands, compared to its average volume of 959,785. The company has a market capitalization of C$50.85 billion, a P/E ratio of 9.92, a PEG ratio of 0.21 and a beta of 1.80. The company has a current ratio of 1.40, a quick ratio of 0.98 and a debt-to-equity ratio of 18.27. The firm's 50-day moving average is C$97.38 and its 200 day moving average is C$95.02. Imperial Oil has a 1 year low of C$72.03 and a 1 year high of C$106.09.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO last announced its quarterly earnings results on Friday, August 2nd. The company reported C$2.11 EPS for the quarter, beating analysts' consensus estimates of C$1.94 by C$0.17. The company had revenue of C$13.38 billion for the quarter, compared to analysts' expectations of C$14.30 billion. Imperial Oil had a net margin of 10.09% and a return on equity of 22.17%. Equities research analysts expect that Imperial Oil will post 8.0042992 EPS for the current year.

Imperial Oil Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, October 1st will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Wednesday, September 4th. Imperial Oil's payout ratio is 25.16%.

Imperial Oil Company Profile

Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment transports and refines crude oil, blends refined products, and distributes and markets of refined products.