Imperial Oil (TSE:IMO) Hits New 52-Week High – Here’s What Happened

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO)’s share price hit a new 52-week high during trading on Monday . The company traded as high as C$139.32 and last traded at C$139.12, with a volume of 220018 shares trading hands. The stock had previously closed at C$138.89.

Analyst Ratings Changes

A number of brokerages recently commented on IMO. Tudor Pickering lowered Imperial Oil from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 25th. Wolfe Research lowered shares of Imperial Oil from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 23rd. Cibc World Mkts cut shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. CIBC lowered shares of Imperial Oil from a “neutral” rating to an “underperform” rating and lifted their target price for the company from C$108.00 to C$110.00 in a research note on Wednesday, October 15th. Finally, Raymond James Financial boosted their price target on shares of Imperial Oil from C$109.00 to C$110.00 in a research report on Monday, November 3rd. Six analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of C$107.88.

Imperial Oil Price Performance

The firm has a 50 day moving average of C$126.87 and a two-hundred day moving average of C$115.69. The company has a market cap of C$68.92 billion, a PE ratio of 17.72, a P/E/G ratio of 0.21 and a beta of 0.98. The company has a current ratio of 1.44, a quick ratio of 0.98 and a debt-to-equity ratio of 18.04.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last released its earnings results on Friday, October 31st. The company reported C$1.07 EPS for the quarter. The business had revenue of C$11.99 billion for the quarter. Imperial Oil had a return on equity of 21.23% and a net margin of 10.00%. Research analysts predict that Imperial Oil Limited will post 8.6164609 earnings per share for the current fiscal year.

Imperial Oil Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Wednesday, October 1st were paid a $0.74 dividend. This is a boost from Imperial Oil’s previous quarterly dividend of $0.72. This represents a $2.96 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Thursday, September 4th. Imperial Oil’s payout ratio is currently 35.25%.

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.