Imperial Oil Limited (TSE:IMO) Plans $0.60 Quarterly Dividend

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) announced a quarterly dividend on Friday, August 2nd, Zacks reports. Investors of record on Wednesday, September 4th will be paid a dividend of 0.60 per share on Tuesday, October 1st. This represents a $2.40 annualized dividend and a yield of 2.54%. The ex-dividend date is Wednesday, September 4th.

Imperial Oil Price Performance

IMO traded down C$1.46 during trading hours on Friday, hitting C$94.50. The company’s stock had a trading volume of 1,154,767 shares, compared to its average volume of 927,838. The business’s 50-day moving average price is C$93.64 and its 200-day moving average price is C$90.34. Imperial Oil has a 12 month low of C$68.84 and a 12 month high of C$101.63. The stock has a market cap of C$50.64 billion, a price-to-earnings ratio of 10.75, a P/E/G ratio of 0.21 and a beta of 1.83. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 18.65.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on IMO shares. CIBC boosted their price target on shares of Imperial Oil from C$90.00 to C$105.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. Desjardins boosted their price objective on shares of Imperial Oil from C$92.00 to C$101.00 and gave the company a “hold” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada boosted their price objective on shares of Imperial Oil from C$100.00 to C$105.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 1st. Scotiabank cut their price objective on shares of Imperial Oil from C$111.00 to C$110.00 in a research report on Friday, July 12th. Finally, TD Securities boosted their price objective on shares of Imperial Oil from C$89.00 to C$91.00 and gave the company a “hold” rating in a research report on Tuesday, April 30th. Nine investment analysts have rated the stock with a hold rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of C$100.08.

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.