Imperial Oil Limited (IMO) to Issue Quarterly Dividend of C$0.87 on April 1st

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) declared a quarterly dividend on Friday, January 30th. Shareholders of record on Thursday, March 5th will be paid a dividend of 0.87 per share by the energy company on Wednesday, April 1st. This represents a c) dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Thursday, March 5th. This is a 20.8% increase from Imperial Oil’s previous quarterly dividend of $0.72.

Imperial Oil has a payout ratio of 41.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Imperial Oil to earn $6.37 per share next year, which means the company should continue to be able to cover its $2.10 annual dividend with an expected future payout ratio of 33.0%.

Imperial Oil Stock Performance

IMO traded down $0.22 during trading on Tuesday, reaching $118.59. 113,319 shares of the company were exchanged, compared to its average volume of 726,308. Imperial Oil has a 52 week low of $58.76 and a 52 week high of $123.52. The company has a current ratio of 1.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.18. The firm has a 50 day moving average of $102.85 and a 200 day moving average of $95.18. The stock has a market cap of $57.35 billion, a P/E ratio of 25.89 and a beta of 0.66.

Analyst Upgrades and Downgrades

IMO has been the topic of several research reports. BMO Capital Markets cut shares of Imperial Oil from an “outperform” rating to a “market perform” rating in a research report on Monday, December 15th. Raymond James Financial cut shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a research note on Monday, December 8th. Royal Bank Of Canada lowered shares of Imperial Oil from a “sector perform” rating to an “underperform” rating and set a $116.00 target price for the company. in a research note on Monday, February 23rd. Finally, TD Securities restated a “sell” rating on shares of Imperial Oil in a report on Monday, February 23rd. Five investment analysts have rated the stock with a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, Imperial Oil has a consensus rating of “Strong Sell” and a consensus target price of $116.00.

Imperial Oil Company Profile

Imperial Oil (NYSEAMERICAN: IMO) is a Canadian integrated energy company involved in the exploration, production, refining and marketing of petroleum and petrochemical products. Headquartered in Calgary, Alberta, Imperial has operated in Canada for well over a century and is one of the country’s long-standing energy firms. The company is majority-owned by Exxon Mobil Corporation, which provides strategic and technical links to global upstream and downstream capabilities.

Imperial’s operations span upstream activities—exploration and production of crude oil, natural gas and oil-sands resources—and downstream operations including refining, manufacturing of fuels and lubricants, petrochemical products, and retail distribution.