Imperial Oil (TSE:IMO) Price Target Cut to C$37.00

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its price target reduced by CIBC from C$39.00 to C$37.00 in a research report report published on Thursday, BayStreet.CA reports.

A number of other research analysts have also recently issued reports on IMO. National Bank Financial lifted their target price on shares of Vermilion Energy from C$35.00 to C$36.00 and gave the company an outperform rating in a research note on Tuesday, July 16th. GMP Securities reiterated a buy rating and issued a $22.25 target price on shares of SPDR Wells Fargo Preferred Stock ETF in a research note on Friday, June 28th. Goldman Sachs Group lifted their target price on shares of MEG Energy from C$6.00 to C$7.00 in a research note on Tuesday, April 16th. Canaccord Genuity reiterated a buy rating and issued a $7.50 target price on shares of in a research note on Tuesday, July 9th. Finally, Royal Bank of Canada reiterated a buy rating and issued a $2.50 target price on shares of in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of C$41.62.

TSE:IMO opened at C$36.37 on Thursday. Imperial Oil has a 1 year low of C$33.52 and a 1 year high of C$44.69. The firm has a 50 day moving average price of C$36.44. The company has a quick ratio of 0.86, a current ratio of 1.22 and a debt-to-equity ratio of 22.62. The company has a market capitalization of $27.79 billion and a PE ratio of 13.82.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last posted its earnings results on Friday, April 26th. The company reported C$0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.50 by C($0.12). The firm had revenue of C$7.98 billion for the quarter, compared to the consensus estimate of C$5.86 billion. On average, analysts anticipate that Imperial Oil will post 2.6400002 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.42%. The ex-dividend date was Friday, May 31st. This is a boost from Imperial Oil’s previous quarterly dividend of $0.19. Imperial Oil’s payout ratio is 28.89%.

About Imperial Oil

Imperial Oil Limited explores for, produces, and sells crude oil and natural gas in Canada. It operates through three segments: Upstream, Downstream, and Chemical. The Upstream segment explores for and produces crude oil, natural gas, synthetic oil, and bitumen. As of December 31, 2018, this segment had 404 million oil-equivalent barrels of proved undeveloped reserves.

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