Imperial Oil (TSE:IMO) Stock Rating Lowered by Wolfe Research

Wolfe Research cut shares of Imperial Oil (TSE:IMO) (NYSEMKT:IMO) from a strong-buy rating to a hold rating in a research note issued to investors on Friday,Zacks.com reports.

Several other equities analysts have also recently issued reports on IMO. National Bankshares lowered their price objective on shares of Imperial Oil from C$115.00 to C$112.00 in a research note on Friday, September 27th. Royal Bank of Canada raised their target price on shares of Imperial Oil from C$99.00 to C$101.00 in a report on Wednesday, November 6th. Raymond James raised their target price on shares of Imperial Oil from C$101.50 to C$104.00 in a report on Friday, December 13th. Scotiabank cut shares of Imperial Oil from an “outperform” rating to a “sector perform” rating and set a C$110.00 target price for the company. in a report on Wednesday, September 25th. Finally, TD Securities raised their target price on shares of Imperial Oil from C$93.00 to C$96.00 and gave the stock a “hold” rating in a report on Friday, December 13th. Ten research analysts have rated the stock with a hold rating, According to MarketBeat, Imperial Oil currently has an average rating of “Hold” and an average target price of C$103.90.

Imperial Oil Stock Performance

Shares of IMO opened at C$90.02 on Friday. The firm’s 50 day moving average is C$99.14 and its 200-day moving average is C$98.21. The stock has a market capitalization of C$48.24 billion, a P/E ratio of 9.44, a P/E/G ratio of 0.21 and a beta of 1.78. The company has a debt-to-equity ratio of 18.27, a current ratio of 1.40 and a quick ratio of 0.98. Imperial Oil has a 12-month low of C$73.81 and a 12-month high of C$108.89.

Imperial Oil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Wednesday, January 1st were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend was Tuesday, December 3rd. Imperial Oil’s dividend payout ratio is currently 25.16%.

Insider Buying and Selling

In related news, Director Bradley William Corson purchased 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, for a total transaction of C$467,713.92. 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.