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 research note issued to investors on Thursday, Marketbeat.com reports.

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

Imperial Oil Stock Performance

Shares of TSE IMO opened at C$101.55 on Thursday. Imperial Oil has a 1 year low of C$86.96 and a 1 year high of C$108.89. The firm has a market cap of C$53.01 billion, a P/E ratio of 10.91, a PEG ratio of 0.21 and a beta of 1.78. The stock has a fifty day moving average price of C$99.25 and a two-hundred day moving average price of C$98.94. The company has a debt-to-equity ratio of 18.04, a quick ratio of 0.98 and a current ratio of 1.44.

Imperial Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 2.84%. This is a boost from Imperial Oil’s previous quarterly dividend of $0.60. The ex-dividend date is Wednesday, March 5th. Imperial Oil’s payout ratio is presently 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.