Imperial Oil (TSE:IMO) Raised to “Strong-Buy” at Scotiabank

Scotiabank upgraded shares of Imperial Oil (TSE:IMO) (NYSEMKT:IMO) from a hold rating to a strong-buy rating in a report issued on Friday, Zacks.com reports.

Several other equities analysts also recently weighed in on the stock. CIBC lifted their target price on shares of Imperial Oil from C$90.00 to C$105.00 and gave the stock a neutral rating in a research note on Monday, April 22nd. TD Securities boosted their price objective on Imperial Oil from C$89.00 to C$91.00 and gave the stock a hold rating in a report on Tuesday, April 30th. Raymond James set a C$93.00 price objective on Imperial Oil and gave the company a market perform rating in a research report on Wednesday, May 29th. BMO Capital Markets upped their price target on shares of Imperial Oil from C$95.00 to C$115.00 in a research report on Thursday, March 28th. Finally, Royal Bank of Canada increased their price objective on Imperial Oil from C$100.00 to C$105.00 and gave the company a sector perform rating in a research note on Wednesday, May 1st. Nine research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Imperial Oil has an average rating of Hold and an average price target of C$96.07.

Imperial Oil Price Performance

Shares of IMO opened at C$88.11 on Friday. The business has a 50-day simple moving average of C$94.34 and a two-hundred day simple moving average of C$85.98. The stock has a market cap of C$47.21 billion, a PE ratio of 10.02, a PEG ratio of 0.21 and a beta of 1.83. Imperial Oil has a 12-month low of C$63.19 and a 12-month high of C$101.63. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 18.65.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last issued its quarterly earnings results on Friday, April 26th. The company reported C$2.23 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.00 by C$0.23. Imperial Oil had a return on equity of 20.78% and a net margin of 9.50%. The firm had revenue of C$12.28 billion during the quarter, compared to the consensus estimate of C$15.74 billion. Analysts anticipate that Imperial Oil will post 9.6175299 earnings per share for the current fiscal year.

Imperial Oil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, July 1st will be given a dividend of $0.60 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.72%. Imperial Oil’s dividend payout ratio is currently 27.30%.

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.