Imperial Oil (TSE:IMO) Issues Quarterly Earnings Results

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) issued its earnings results on Friday. The company reported C$5.11 earnings per share (EPS) for the quarter, FiscalAI reports. Imperial Oil had a net margin of 7.81% and a return on equity of 18.76%. The business had revenue of C$16.20 billion during the quarter.

Imperial Oil Stock Performance

Shares of TSE:IMO traded up C$8.34 during midday trading on Friday, reaching C$191.96. The company had a trading volume of 1,221,645 shares, compared to its average volume of 830,980. The company has a current ratio of 1.38, a quick ratio of 0.98 and a debt-to-equity ratio of 17.11. The stock has a market cap of C$92.83 billion, a P/E ratio of 22.43, a P/E/G ratio of 0.21 and a beta of 0.62. The company’s 50 day moving average price is C$181.62 and its 200 day moving average price is C$171.41. Imperial Oil has a 52-week low of C$114.75 and a 52-week high of C$192.40.

Imperial Oil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, October 1st were given a dividend of $0.87 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $3.48 annualized dividend and a dividend yield of 1.8%. Imperial Oil’s dividend payout ratio (DPR) is currently 37.15%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. ATB Cormark Capital Markets increased their target price on shares of Imperial Oil from C$140.00 to C$175.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 22nd. TD increased their price objective on shares of Imperial Oil from C$150.00 to C$151.00 and gave the stock a “sell” rating in a research note on Wednesday, August 5th. Scotia decreased their price objective on shares of Imperial Oil from C$159.00 to C$156.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 5th. JPMorgan Chase & Co. raised their price target on shares of Imperial Oil from C$149.00 to C$158.00 in a research note on Tuesday, July 14th. Finally, UBS Group upped their price objective on shares of Imperial Oil from C$195.00 to C$205.00 in a research report on Monday, September 14th. Six analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of C$152.83.

Imperial Oil Company Profile

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. Imperial remains the largest refiner of petroleum products in Canada, operating three refineries with a combined processing capacity of 421 mboe/d.