Imperial Oil (TSE:IMO) Rating Lowered to Sector Perform at Scotiabank

Scotiabank downgraded shares of Imperial Oil (TSE:IMO) (NYSEMKT:IMO) from an outperform rating to a sector perform rating in a report published on Wednesday, MarketBeat reports. The firm currently has C$110.00 price objective on the stock.

Other research analysts also recently issued research reports about the company. Desjardins boosted their price target on Imperial Oil from C$92.00 to C$101.00 and gave the company a hold rating in a research note on Tuesday, July 23rd. Wolfe Research upgraded shares of Imperial Oil to a strong-buy rating in a research report on Thursday, July 18th. Royal Bank of Canada reduced their price target on shares of Imperial Oil from C$108.00 to C$99.00 in a research report on Tuesday, September 17th. TD Securities boosted their price objective on shares of Imperial Oil from C$91.00 to C$92.00 and gave the company a hold rating in a research report on Thursday, August 8th. Finally, Raymond James set a C$93.00 target price on Imperial Oil and gave the company a market perform rating in a report on Wednesday, May 29th. Ten investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of C$99.08.

Imperial Oil Stock Performance

TSE IMO opened at C$94.82 on Wednesday. The firm has a 50-day moving average price of C$97.26 and a two-hundred day moving average price of C$95.06. Imperial Oil has a 12-month low of C$72.03 and a 12-month high of C$106.09. The company has a market capitalization of C$50.81 billion, a P/E ratio of 9.92, a P/E/G ratio of 0.21 and a beta of 1.80. The company has a quick ratio of 0.98, a current ratio of 1.40 and a debt-to-equity ratio of 18.27.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last issued its quarterly earnings results on Friday, August 2nd. The company reported C$2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.94 by C$0.17. Imperial Oil had a return on equity of 22.17% and a net margin of 10.09%. The business had revenue of C$13.38 billion during the quarter, compared to analysts’ expectations of C$14.30 billion. Analysts anticipate that Imperial Oil will post 8.0042992 earnings per share for the current year.

Imperial Oil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, October 1st will be given a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $2.40 annualized dividend and a yield of 2.53%. Imperial Oil’s dividend payout ratio is presently 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.