Imperial Oil (TSE:IMO) Downgraded to “Sell” Rating by The Goldman Sachs Group

The Goldman Sachs Group cut shares of Imperial Oil (TSE:IMO) (NYSEMKT:IMO) from a neutral rating to a sell rating in a research note released on Thursday morning,BayStreet.CA reports.

IMO has been the subject of several other research reports. Wolfe Research cut Imperial Oil from a “strong-buy” rating to a “hold” rating in a report on Friday, January 3rd. Scotiabank raised shares of Imperial Oil to a “hold” rating in a research note on Wednesday, March 19th. CIBC upped their price target on Imperial Oil from C$105.00 to C$108.00 in a report on Friday, January 17th. TD Securities raised their price objective on Imperial Oil from C$94.00 to C$97.00 and gave the company a “hold” rating in a report on Friday, February 21st. Finally, National Bankshares upped their target price on Imperial Oil from C$109.00 to C$110.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating and nine have issued a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of C$105.67.

Imperial Oil Stock Down 1.0 %

Imperial Oil stock opened at C$103.45 on Thursday. Imperial Oil has a fifty-two week low of C$86.96 and a fifty-two week high of C$108.89. The company has a market cap of C$54.01 billion, a PE ratio of 11.11, a PEG ratio of 0.21 and a beta of 1.78. 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 business’s 50-day simple moving average is C$99.19 and its two-hundred day simple moving average is C$98.84.

Imperial Oil Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, April 1st will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Wednesday, March 5th. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.60. Imperial Oil’s dividend payout ratio is 25.78%.

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.