TD Cuts Imperial Oil (TSE:IMO) Price Target to C$156.00

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its target price cut by TD from C$157.00 to C$156.00 in a research report report published on Wednesday morning,BayStreet.CA reports. They currently have a sell rating on the stock.

Several other equities analysts also recently weighed in on IMO. National Bank Financial boosted their target price on Imperial Oil from C$139.00 to C$212.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 31st. UBS Group boosted their price objective on Imperial Oil from C$155.00 to C$185.00 in a report on Monday, March 16th. Royal Bank Of Canada boosted their price objective on Imperial Oil from C$116.00 to C$124.00 and gave the company an “underperform” rating in a report on Wednesday, April 8th. TD Securities boosted their price objective on Imperial Oil from C$101.00 to C$110.00 and gave the company a “sell” rating in a report on Monday, February 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on Imperial Oil from C$155.00 to C$149.00 in a report on Monday, May 4th. Four research analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Strong Sell” and an average target price of C$137.00.

Imperial Oil Stock Performance

TSE IMO opened at C$185.26 on Wednesday. The company has a market cap of C$89.59 billion, a P/E ratio of 31.40, a P/E/G ratio of 0.21 and a beta of 0.65. The company has a debt-to-equity ratio of 18.20, a quick ratio of 0.98 and a current ratio of 1.23. The business’s 50 day moving average price is C$174.56 and its 200-day moving average price is C$149.93. Imperial Oil has a fifty-two week low of C$97.03 and a fifty-two week high of C$185.73.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last released its earnings results on Friday, May 1st. The company reported C$1.94 earnings per share for the quarter. The firm had revenue of C$12.42 billion for the quarter. Imperial Oil had a return on equity of 13.43% and a net margin of 6.27%. Sell-side analysts predict that Imperial Oil will post 8.6164609 earnings per share for the current year.

Imperial Oil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Wednesday, April 1st were given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Thursday, March 5th. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.72. Imperial Oil’s dividend payout ratio is currently 51.36%.

Insider Activity

In other news, insider Ian Robert Laing sold 4,100 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of C$176.63, for a total transaction of C$724,183.00. Over the last 90 days, insiders sold 6,569 shares of company stock worth $1,144,955. 71.26% of the stock is currently owned by corporate insiders.

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. Imperial remains the largest refiner of petroleum products in Canada, operating three refineries with a combined processing capacity of 421 mboe/d.