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

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

A number of other research firms have also weighed in on IMO. Wolfe Research lowered Imperial Oil from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 3rd. TD Securities increased their price target on Imperial Oil from C$94.00 to C$97.00 and gave the company a “hold” rating in a research report on Friday, February 21st. CIBC lifted their price objective on Imperial Oil from C$105.00 to C$108.00 in a research note on Friday, January 17th. National Bankshares upped their target price on shares of 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. Finally, Raymond James lifted their price target on shares of Imperial Oil from C$101.50 to C$104.00 in a research note on Friday, December 13th. One analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of C$105.67.

Imperial Oil Price Performance

Shares of IMO opened at C$103.45 on Thursday. The company has a market cap of C$54.01 billion, a P/E ratio of 11.11, a PEG ratio of 0.21 and a beta of 1.78. 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 quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 18.04. The firm’s 50 day moving average price is C$99.19 and its 200 day moving average price is C$98.84.

Imperial Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $2.88 dividend on an annualized basis and a yield of 2.78%. This is a boost from Imperial Oil’s previous quarterly dividend of $0.60. Imperial Oil’s dividend payout ratio (DPR) is presently 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.