Imperial Oil (TSE:IMO) Issues Quarterly Earnings Results

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) released its quarterly earnings results on Friday. The company reported C$4.52 earnings per share for the quarter, FiscalAI reports. The business had revenue of C$16.06 billion for the quarter. Imperial Oil had a net margin of 6.13% and a return on equity of 13.38%.

Imperial Oil Price Performance

Shares of TSE IMO opened at C$181.75 on Friday. The company has a 50 day simple moving average of C$169.40 and a two-hundred day simple moving average of C$166.57. Imperial Oil has a fifty-two week low of C$113.01 and a fifty-two week high of C$191.76. The company has a market capitalization of C$87.89 billion, a price-to-earnings ratio of 30.81, a P/E/G ratio of 0.21 and a beta of 0.39. The company has a debt-to-equity ratio of 18.53, a quick ratio of 0.98 and a current ratio of 1.23.

Imperial Oil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, July 1st were paid a dividend of $0.87 per share. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 1.9%. Imperial Oil’s dividend payout ratio (DPR) is currently 51.36%.

Insider Activity at Imperial Oil

In other news, insider Ian Robert Laing sold 4,100 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of C$176.63, for a total value of C$724,183.00. Over the last quarter, insiders sold 6,569 shares of company stock valued at $1,144,955. Insiders own 71.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on IMO. National Bank Financial raised their price objective on shares of Imperial Oil from C$212.00 to C$214.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 8th. TD decreased their target price on Imperial Oil from C$156.00 to C$150.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. raised their target price on Imperial Oil from C$149.00 to C$158.00 in a research note on Tuesday, July 14th. Scotiabank upgraded Imperial Oil to a “hold” rating in a research report on Friday, June 26th. Finally, Desjardins set a C$160.00 price target on Imperial Oil and gave the stock a “hold” rating in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of C$142.45.

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. Imperial remains the largest refiner of petroleum products in Canada, operating three refineries with a combined processing capacity of 421 mboe/d.