CIBC Raises Imperial Oil (TSE:IMO) Price Target to C$90.00

Imperial Oil (TSE:IMOFree Report) (NYSEMKT:IMO) had its price objective increased by CIBC from C$85.00 to C$90.00 in a research report sent to investors on Friday morning, BayStreet.CA reports. CIBC currently has a neutral rating on the stock.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. cut their target price on shares of Imperial Oil from C$97.00 to C$94.00 in a research note on Monday, February 12th. Morgan Stanley lifted their price target on shares of Imperial Oil from C$78.00 to C$80.00 in a research note on Wednesday, November 29th. ATB Capital lifted their price target on shares of Imperial Oil from C$85.00 to C$90.00 and gave the stock a sector perform rating in a research note on Wednesday, March 20th. National Bankshares raised their price objective on shares of Imperial Oil from C$89.00 to C$90.00 and gave the stock a sector perform rating in a report on Friday, March 1st. Finally, Desjardins raised their price objective on shares of Imperial Oil from C$86.00 to C$88.00 and gave the stock a hold rating in a report on Friday. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average target price of C$88.38.

Get Our Latest Research Report on IMO

Imperial Oil Stock Performance

Shares of IMO stock opened at C$92.16 on Friday. The company’s fifty day simple moving average is C$82.15 and its 200-day simple moving average is C$79.76. Imperial Oil has a 52 week low of C$60.19 and a 52 week high of C$92.62. The company has a current ratio of 1.26, a quick ratio of 0.98 and a debt-to-equity ratio of 19.49. The company has a market cap of C$49.38 billion, a PE ratio of 10.86, a P/E/G ratio of 0.21 and a beta of 1.84.

Imperial Oil (TSE:IMOGet Free Report) (NYSEMKT:IMO) last issued its earnings results on Friday, February 2nd. The company reported C$2.47 EPS for the quarter, beating analysts’ consensus estimates of C$2.08 by C$0.39. Imperial Oil had a net margin of 9.64% and a return on equity of 21.91%. The business had revenue of C$13.11 billion for the quarter, compared to the consensus estimate of C$16.57 billion. As a group, equities research analysts anticipate that Imperial Oil will post 8.3409091 EPS for the current year.

Imperial Oil Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, April 1st will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, March 1st. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.50. This represents a $2.40 annualized dividend and a dividend yield of 2.60%. Imperial Oil’s payout ratio is 28.27%.

Imperial Oil Company Profile

(Get Free Report)

Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores for, and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment is involved in the transportation and refining of crude oil, blending of refined products, and the distribution and marketing of refined products.

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Analyst Recommendations for Imperial Oil (TSE:IMO)

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