Imperial Oil (TSE:IMO) Downgraded by Scotiabank

Scotiabank cut shares of Imperial Oil (TSE:IMO) (NYSEMKT:IMO) from an outperform rating to a sector perform rating in a research note released on Wednesday morning, Marketbeat Ratings reports. They currently have C$110.00 price target on the stock.

IMO has been the subject of several other research reports. Royal Bank of Canada decreased their price objective on Imperial Oil from C$108.00 to C$99.00 in a report on Tuesday, September 17th. Desjardins boosted their price target on Imperial Oil from C$92.00 to C$101.00 and gave the stock a hold rating in a research report on Tuesday, July 23rd. TD Securities increased their price objective on Imperial Oil from C$91.00 to C$92.00 and gave the company a hold rating in a report on Thursday, August 8th. Raymond James set a C$93.00 target price on shares of Imperial Oil and gave the stock a market perform rating in a report on Wednesday, May 29th. Finally, Wolfe Research upgraded shares of Imperial Oil to a strong-buy rating in a research note on Thursday, July 18th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of C$99.08.

Imperial Oil Stock Up 2.3 %

Shares of Imperial Oil stock opened at C$94.82 on Wednesday. The firm has a market cap of C$50.81 billion, a PE ratio of 9.92, a P/E/G ratio of 0.21 and a beta of 1.80. The business’s 50 day simple moving average is C$97.26 and its 200 day simple moving average is C$95.06. The company has a debt-to-equity ratio of 18.27, a quick ratio of 0.98 and a current ratio of 1.40. Imperial Oil has a 52-week low of C$72.03 and a 52-week high of C$106.09.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last announced its quarterly earnings data on Friday, August 2nd. The company reported C$2.11 EPS for the quarter, topping analysts’ consensus estimates of C$1.94 by C$0.17. The business had revenue of C$13.38 billion for the quarter, compared to analyst estimates of C$14.30 billion. Imperial Oil had a net margin of 10.09% and a return on equity of 22.17%. On average, analysts predict that Imperial Oil will post 8.0042992 earnings per share for the current fiscal year.

Imperial Oil Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, October 1st will be issued a $0.60 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $2.40 annualized dividend and a yield of 2.53%. Imperial Oil’s dividend payout ratio is currently 25.16%.

About Imperial Oil

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.