Imperial Oil Limited (TSE:IMO) Plans Dividend Increase – $0.72 Per Share

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) announced a quarterly dividend on Wednesday, March 5th, TickerTech Dividends reports. Stockholders 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 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Wednesday, March 5th. This is an increase from Imperial Oil’s previous quarterly dividend of $0.60.

Imperial Oil Price Performance

TSE IMO opened at C$98.09 on Monday. Imperial Oil has a 1 year low of C$83.24 and a 1 year high of C$108.89. The stock’s 50-day moving average price is C$96.71 and its two-hundred day moving average price is C$99.26. The company has a market cap of C$51.21 billion, a PE ratio of 10.54, a PEG ratio of 0.21 and a beta of 1.78. The company has a current ratio of 1.44, a quick ratio of 0.98 and a debt-to-equity ratio of 18.04.

Analyst Ratings Changes

A number of research firms have recently issued reports on IMO. CIBC increased their target price on Imperial Oil from C$105.00 to C$108.00 in a report on Friday, January 17th. TD Securities raised their price objective on Imperial Oil from C$94.00 to C$97.00 and gave the stock a “hold” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. lifted their target price on Imperial Oil from C$97.00 to C$100.00 in a research note on Wednesday, November 13th. National Bankshares increased their price target on shares of Imperial Oil from C$109.00 to C$110.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 30th. Finally, Wolfe Research cut shares of Imperial Oil from a “strong-buy” rating to a “hold” rating in a report on Friday, January 3rd. Ten equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of C$104.10.

Insider Transactions at Imperial Oil

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