Imperial Oil Limited (TSE:IMO – Get Free Report) (NYSEMKT:IMO) has received an average recommendation of “Hold” from the eight brokerages that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is C$103.78.
IMO has been the topic of a number of recent research reports. Desjardins increased their target price on Imperial Oil from C$85.00 to C$89.00 and gave the stock a “hold” rating in a research note on Tuesday, May 6th. National Bankshares increased their target price on Imperial Oil from C$109.00 to C$110.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 30th. The Goldman Sachs Group lowered Imperial Oil from a “neutral” rating to a “sell” rating in a research note on Thursday, March 27th. Scotiabank upgraded Imperial Oil to a “hold” rating in a research note on Wednesday, March 19th. Finally, CIBC increased their target price on Imperial Oil from C$105.00 to C$108.00 in a research note on Friday, January 17th.
Imperial Oil Price Performance
Imperial Oil Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, April 1st were issued a $0.72 dividend. The ex-dividend date was Wednesday, March 5th. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.60. This represents a $2.88 annualized dividend and a dividend yield of 2.84%. Imperial Oil’s dividend payout ratio is currently 25.78%.
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.
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