Imperial Oil (TSE:IMO) Cut to “Market Perform” at BMO Capital Markets

BMO Capital Markets lowered shares of Imperial Oil (TSE:IMO) (NYSEMKT:IMO) from an outperform rating to a market perform rating in a report issued on Monday morning, MarketBeat.com reports. The brokerage currently has C$129.00 price target on the stock, down from their prior price target of C$132.00.

IMO has been the subject of several other reports. Cibc World Mkts lowered Imperial Oil from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Desjardins upped their target price on Imperial Oil from C$114.00 to C$120.00 and gave the company a “sell” rating in a report on Monday, November 24th. JPMorgan Chase & Co. lifted their price target on Imperial Oil from C$101.00 to C$110.00 in a research note on Thursday, October 23rd. TD Securities boosted their price objective on Imperial Oil from C$104.00 to C$107.00 and gave the stock a “sell” rating in a report on Tuesday, November 4th. Finally, Raymond James Financial cut shares of Imperial Oil from a “hold” rating to a “strong sell” rating and raised their target price for the stock from C$110.00 to C$111.00 in a report on Monday, December 8th. Six research analysts have rated the stock with a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of C$112.30.

Imperial Oil Stock Down 0.1%

IMO opened at C$117.20 on Monday. The company has a debt-to-equity ratio of 18.04, a quick ratio of 0.98 and a current ratio of 1.44. The company has a market capitalization of C$58.23 billion, a PE ratio of 14.97, a P/E/G ratio of 0.21 and a beta of 1.04. The stock’s fifty day moving average is C$129.17 and its 200-day moving average is C$120.98. Imperial Oil has a one year low of C$82.98 and a one year high of C$141.17.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last released its earnings results on Friday, October 31st. The company reported C$2.17 EPS for the quarter. The business had revenue of C$11.99 billion during the quarter. Imperial Oil had a net margin of 10.00% and a return on equity of 21.23%. On average, equities analysts predict that Imperial Oil will post 8.6164609 EPS for the current fiscal year.

Imperial Oil Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Thursday, January 1st will be issued a $0.72 dividend. The ex-dividend date is Wednesday, December 3rd. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.5%. Imperial Oil’s dividend payout ratio is currently 35.25%.

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.