Imperial Oil Limited (TSE:IMO) to Issue Quarterly Dividend of $0.60

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) declared a quarterly dividend on Friday, April 26th, Zacks reports. Shareholders of record on Monday, June 3rd will be given a dividend of 0.60 per share on Monday, July 1st. This represents a $2.40 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Monday, June 3rd.

Imperial Oil Stock Performance

Imperial Oil stock opened at C$96.56 on Friday. The stock has a market cap of C$51.74 billion, a PE ratio of 11.37, a P/E/G ratio of 0.21 and a beta of 1.84. The company has a quick ratio of 0.98, a current ratio of 1.26 and a debt-to-equity ratio of 19.49. The business’s 50-day moving average price is C$91.57 and its two-hundred day moving average price is C$82.58. Imperial Oil has a 12-month low of C$60.19 and a 12-month high of C$101.63.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last released its quarterly earnings results on Friday, February 2nd. The company reported C$2.47 earnings per share for the quarter, topping the consensus estimate of C$2.08 by C$0.39. The company had revenue of C$13.11 billion for the quarter, compared to analysts’ expectations of C$16.57 billion. Imperial Oil had a return on equity of 21.91% and a net margin of 9.64%. As a group, analysts expect that Imperial Oil will post 8.4369527 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Royal Bank of Canada boosted their price target on Imperial Oil from C$85.00 to C$100.00 in a report on Tuesday, April 9th. TD Securities cut Imperial Oil from a “buy” rating to a “hold” rating and upped their target price for the company from C$87.00 to C$88.00 in a report on Thursday, February 29th. JPMorgan Chase & Co. reduced their target price on Imperial Oil from C$97.00 to C$94.00 in a report on Monday, February 12th. National Bankshares upped their target price on Imperial Oil from C$90.00 to C$120.00 and gave the company a “sector perform” rating in a report on Friday, April 19th. Finally, BMO Capital Markets upped their target price on Imperial Oil from C$95.00 to C$115.00 in a report on Thursday, March 28th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of C$95.69.

About Imperial Oil

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 and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment transports and refines crude oil, blends refined products, and distributes and markets of refined products.