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

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

A number of other brokerages have also recently weighed in on IMO. JPMorgan Chase & Co. boosted their price target on shares of Imperial Oil from C$97.00 to C$100.00 in a research report on Wednesday, November 13th. National Bankshares decreased their target price on Imperial Oil from C$115.00 to C$112.00 in a research report on Friday, September 27th. TD Securities raised their price target on Imperial Oil from C$93.00 to C$96.00 and gave the stock a “hold” rating in a research note on Friday, December 13th. Raymond James boosted their price objective on Imperial Oil from C$101.50 to C$104.00 in a research note on Friday, December 13th. Finally, Scotiabank lowered shares of Imperial Oil from an “outperform” rating to a “sector perform” rating and set a C$110.00 target price on the stock. in a research report on Wednesday, September 25th. Ten research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$103.90.

Imperial Oil Stock Performance

Shares of Imperial Oil stock opened at C$90.02 on Friday. The firm 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 quick ratio of 0.98, a current ratio of 1.40 and a debt-to-equity ratio of 18.27. Imperial Oil has a 52 week low of C$73.81 and a 52 week high of C$108.89. The firm’s 50 day moving average is C$99.43 and its two-hundred day moving average is C$98.13.

Imperial Oil Dividend Announcement

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 presently 25.16%.

Insider Activity at Imperial Oil

In other Imperial Oil news, Director Bradley William Corson purchased 4,800 shares of Imperial Oil stock in a transaction dated 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. 71.26% of the stock is currently owned by insiders.

Imperial Oil Company Profile

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.