Imperial Oil Limited (IMO) to Issue Quarterly Dividend of $0.72 on April 1st

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) declared a quarterly dividend on Wednesday, March 5th, TickerTech Dividends reports. Shareholders of record on Tuesday, April 1st will be paid a dividend of 0.72 per share on Tuesday, April 1st. This represents a $2.88 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date is Wednesday, March 5th. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.60.

Imperial Oil Trading Up 0.4 %

TSE:IMO opened at C$98.09 on Monday. 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. The business has a 50 day simple moving average of C$96.71 and a 200 day simple moving average of 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. Imperial Oil has a 12-month low of C$83.24 and a 12-month high of C$108.89.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on IMO shares. Wolfe Research cut Imperial Oil from a “strong-buy” rating to a “hold” rating in a report on Friday, January 3rd. CIBC raised their target price on Imperial Oil from C$105.00 to C$108.00 in a research report on Friday, January 17th. Raymond James boosted their price target on Imperial Oil from C$101.50 to C$104.00 in a research report on Friday, December 13th. National Bankshares raised their price target on Imperial Oil from C$109.00 to C$110.00 and gave the company a “sector perform” rating in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Imperial Oil from C$97.00 to C$100.00 in a report on Wednesday, November 13th. Ten equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$104.10.

Insider Buying and Selling

In other news, Director Bradley William Corson acquired 4,800 shares of Imperial Oil stock in a transaction on Thursday, December 12th. The stock was bought 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.