Imperial Oil (TSE:IMO) Upgraded to “Strong-Buy” by Scotiabank

Scotiabank upgraded shares of Imperial Oil (TSE:IMOFree Report) (NYSEMKT:IMO) from a hold rating to a strong-buy rating in a report issued on Friday, Zacks.com reports.

IMO has been the topic of several other reports. ATB Capital boosted their price target on Imperial Oil from C$85.00 to C$90.00 and gave the stock a sector perform rating in a research report on Wednesday, March 20th. Raymond James set a C$93.00 price target on shares of Imperial Oil and gave the company a market perform rating in a report on Wednesday, May 29th. BMO Capital Markets boosted their price objective on shares of Imperial Oil from C$95.00 to C$115.00 in a report on Thursday, March 28th. National Bankshares upped their price objective on shares of Imperial Oil from C$90.00 to C$120.00 and gave the company a sector perform rating in a research report on Friday, April 19th. Finally, TD Securities lifted their target price on Imperial Oil from C$89.00 to C$91.00 and gave the stock a hold rating in a research report on Tuesday, April 30th. Nine analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of C$96.07.

View Our Latest Stock Analysis on Imperial Oil

Imperial Oil Price Performance

IMO opened at C$88.53 on Friday. Imperial Oil has a 52-week low of C$63.19 and a 52-week high of C$101.63. The company has a 50 day moving average of C$94.12 and a two-hundred day moving average of C$86.06. The company has a market cap of C$47.44 billion, a P/E ratio of 10.07, a P/E/G ratio of 0.21 and a beta of 1.83. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 18.65.

Imperial Oil (TSE:IMOGet Free Report) (NYSEMKT:IMO) last announced its quarterly earnings results on Friday, April 26th. The company reported C$2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.00 by C$0.23. The firm had revenue of C$12.28 billion during the quarter, compared to the consensus estimate of C$15.74 billion. Imperial Oil had a return on equity of 20.78% and a net margin of 9.50%. On average, analysts expect that Imperial Oil will post 9.6175299 earnings per share for the current year.

Imperial Oil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, July 1st will be issued a $0.60 dividend. The ex-dividend date is Monday, June 3rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.71%. Imperial Oil’s dividend payout ratio (DPR) is presently 27.30%.

About Imperial Oil

(Get Free Report)

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.

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Analyst Recommendations for Imperial Oil (TSE:IMO)

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