Brokerages Set Imperial Oil Limited (TSE:IMO) Target Price at C$104.10

Shares of Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) have been given an average rating of “Hold” by the ten research firms that are covering the stock, Marketbeat reports. Ten investment analysts have rated the stock with a hold rating. The average 1 year price target among analysts that have issued ratings on the stock in the last year is C$104.10.

Several research firms have weighed in on IMO. Royal Bank of Canada upped their price objective on shares of Imperial Oil from C$99.00 to C$101.00 in a research note on Wednesday, November 6th. Wolfe Research lowered shares of Imperial Oil from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 3rd. CIBC upped their price objective on shares of Imperial Oil from C$105.00 to C$108.00 in a research note on Friday, January 17th. Raymond James upped their price objective on shares of Imperial Oil from C$101.50 to C$104.00 in a research note on Friday, December 13th. Finally, TD Securities upped their price objective on shares of Imperial Oil from C$94.00 to C$97.00 and gave the company a “hold” rating in a research note on Friday, February 21st.

Imperial Oil Stock Up 0.4 %

IMO stock opened at C$98.09 on Monday. Imperial Oil has a 52-week low of C$83.24 and a 52-week high of C$108.89. The company’s 50 day simple moving average is C$96.71 and its 200-day simple moving average is C$99.26. The company has a debt-to-equity ratio of 18.04, a current ratio of 1.44 and a quick ratio of 0.98. The firm has a market capitalization of C$51.21 billion, a P/E ratio of 10.54, a P/E/G ratio of 0.21 and a beta of 1.78.

Imperial Oil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.94%. This is an increase from Imperial Oil’s previous quarterly dividend of $0.60. The ex-dividend date is Wednesday, March 5th. Imperial Oil’s payout ratio is currently 25.78%.

Insiders Place Their Bets

In other news, Director Bradley William Corson acquired 4,800 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average cost of C$97.44 per share, with a total value of C$467,713.92. Insiders own 71.26% of the company’s stock.

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.