Imperial Oil (TSE:IMO) Cut to “Sell” at The Goldman Sachs Group

The Goldman Sachs Group downgraded shares of Imperial Oil (TSE:IMO) (NYSEMKT:IMO) from a neutral rating to a sell rating in a research report report published on Thursday morning, MarketBeat.com reports.

Several other research analysts have also commented on the company. Raymond James lifted their target price on Imperial Oil from C$101.50 to C$104.00 in a research report on Friday, December 13th. CIBC boosted their target price on shares of Imperial Oil from C$105.00 to C$108.00 in a research note on Friday, January 17th. Scotiabank raised shares of Imperial Oil to a “hold” rating in a report on Wednesday, March 19th. Wolfe Research lowered shares of Imperial Oil from a “strong-buy” rating to a “hold” rating in a report on Friday, January 3rd. Finally, TD Securities increased their price objective on shares of Imperial Oil from C$94.00 to C$97.00 and gave the stock a “hold” rating in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating and nine have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of C$105.67.

Imperial Oil Stock Down 1.8 %

TSE:IMO opened at C$101.55 on Thursday. The company has a debt-to-equity ratio of 18.04, a quick ratio of 0.98 and a current ratio of 1.44. The company has a market capitalization of C$53.01 billion, a price-to-earnings ratio of 10.91, a price-to-earnings-growth ratio of 0.21 and a beta of 1.78. Imperial Oil has a one year low of C$86.96 and a one year high of C$108.89. The stock has a 50-day simple moving average of C$99.25 and a 200 day simple moving average of C$98.94.

Imperial Oil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, April 1st will be given a $0.72 dividend. This is a boost from Imperial Oil’s previous quarterly dividend of $0.60. This represents a $2.88 annualized dividend and a yield of 2.84%. The ex-dividend date is Wednesday, March 5th. Imperial Oil’s dividend payout ratio (DPR) is currently 25.78%.

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.