Imperial Oil Limited Plans Quarterly Dividend of $0.43 (NYSEAMERICAN:IMO)

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) announced a quarterly dividend on Monday, August 5th, Wall Street Journal reports. Shareholders of record on Wednesday, September 4th will be given a dividend of 0.4336 per share by the energy company on Tuesday, October 1st. This represents a $1.73 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Wednesday, September 4th.

Imperial Oil has raised its dividend by an average of 42.8% annually over the last three years. Imperial Oil has a payout ratio of 25.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Imperial Oil to earn $6.43 per share next year, which means the company should continue to be able to cover its $1.75 annual dividend with an expected future payout ratio of 27.2%.

Imperial Oil Trading Down 0.5 %

NYSEAMERICAN IMO traded down $0.31 during trading on Monday, hitting $67.72. The stock had a trading volume of 305,808 shares, compared to its average volume of 389,246. The stock has a market capitalization of $36.29 billion, a price-to-earnings ratio of 10.66 and a beta of 1.47. Imperial Oil has a 12 month low of $51.85 and a 12 month high of $74.58. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.04 and a current ratio of 1.34.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last posted its quarterly earnings results on Friday, August 2nd. The energy company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.11. The firm had revenue of $9.78 billion for the quarter, compared to analyst estimates of $10.50 billion. Imperial Oil had a net margin of 9.46% and a return on equity of 20.76%. As a group, analysts anticipate that Imperial Oil will post 6.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on IMO shares. Raymond James raised shares of Imperial Oil to a “hold” rating in a report on Tuesday, May 28th. Wolfe Research initiated coverage on shares of Imperial Oil in a research note on Thursday, July 18th. They issued an “outperform” rating and a $108.00 price objective for the company. StockNews.com downgraded Imperial Oil from a “buy” rating to a “hold” rating in a research report on Monday, July 1st. Finally, Scotiabank reduced their price target on Imperial Oil from $111.00 to $110.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Imperial Oil presently has an average rating of “Hold” and an average target price of $94.80.

Imperial Oil Company Profile

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.