Imperial Oil Limited (TSE:IMO) Director Acquires C$467,713.92 in Stock

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) Director Bradley William Corson acquired 4,800 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were purchased at an average cost of C$97.44 per share, for a total transaction of C$467,713.92.

Imperial Oil Price Performance

TSE:IMO traded down C$6.99 during mid-day trading on Thursday, reaching C$97.03. 2,067,459 shares of the company were exchanged, compared to its average volume of 975,682. Imperial Oil Limited has a 12 month low of C$72.44 and a 12 month high of C$108.89. The stock has a market cap of C$51.99 billion, a PE ratio of 10.90, a PEG ratio of 0.21 and a beta of 1.78. The company has a quick ratio of 0.98, a current ratio of 1.40 and a debt-to-equity ratio of 18.27. The company has a fifty day moving average of C$103.76 and a 200 day moving average of C$98.25.

Imperial Oil Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Wednesday, January 1st will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Tuesday, December 3rd. Imperial Oil’s dividend payout ratio is 25.16%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on IMO. Scotiabank downgraded shares of Imperial Oil from an “outperform” rating to a “sector perform” rating and set a C$110.00 price objective for the company. in a report on Wednesday, September 25th. National Bankshares cut their price target on shares of Imperial Oil from C$115.00 to C$112.00 in a research note on Friday, September 27th. Raymond James upped their price objective on Imperial Oil from C$99.00 to C$101.50 in a research note on Monday, November 4th. TD Securities raised their target price on Imperial Oil from C$92.00 to C$93.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada upped their price target on Imperial Oil from C$99.00 to C$101.00 in a research report on Wednesday, November 6th. Nine equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of C$103.35.

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.