Imperial Oil (TSE:IMO) Posts Quarterly Earnings Results

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) released its quarterly earnings data on Friday. The company reported C$1.94 EPS for the quarter, FiscalAI reports. Imperial Oil had a net margin of 7.02% and a return on equity of 14.75%. The business had revenue of C$12.45 billion during the quarter.

Imperial Oil Stock Down 4.0%

Shares of TSE IMO opened at C$174.60 on Friday. The firm’s 50-day moving average price is C$171.45 and its 200-day moving average price is C$146.20. The company has a current ratio of 1.27, a quick ratio of 0.98 and a debt-to-equity ratio of 19.69. The stock has a market capitalization of C$84.44 billion, a price-to-earnings ratio of 26.94, a P/E/G ratio of 0.21 and a beta of 0.52. Imperial Oil has a 12-month low of C$92.10 and a 12-month high of C$185.73.

Imperial Oil Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Wednesday, April 1st were given a dividend of $0.87 per share. The ex-dividend date was Thursday, March 5th. This represents a $3.48 annualized dividend and a dividend yield of 2.0%. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.72. Imperial Oil’s dividend payout ratio is currently 44.44%.

Analyst Upgrades and Downgrades

IMO has been the subject of several research reports. TD Securities increased their price objective on shares of Imperial Oil from C$101.00 to C$110.00 and gave the company a “sell” rating in a report on Monday, February 23rd. Raymond James Financial upped their target price on shares of Imperial Oil from C$107.00 to C$126.00 in a research report on Monday, March 30th. UBS Group upped their target price on shares of Imperial Oil from C$155.00 to C$185.00 in a research report on Monday, March 16th. TD upped their target price on shares of Imperial Oil from C$110.00 to C$157.00 and gave the company a “sell” rating in a research report on Thursday, April 16th. Finally, Royal Bank Of Canada upped their target price on shares of Imperial Oil from C$116.00 to C$124.00 and gave the company an “underperform” rating in a research report on Wednesday, April 8th. Four 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.com, the stock presently has an average rating of “Strong Sell” and an average target price of C$137.58.

About Imperial Oil

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.