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

Shares of Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) reached a new 52-week high during trading on Monday . The stock traded as high as C$132.33 and last traded at C$132.13, with a volume of 349333 shares changing hands. The stock had previously closed at C$130.98.

Analyst Ratings Changes

Several analysts have weighed in on IMO shares. TD Securities boosted their price target on shares of Imperial Oil from C$104.00 to C$107.00 and gave the stock a “sell” rating in a research note on Tuesday, November 4th. Tudor Pickering downgraded Imperial Oil from a “strong-buy” rating to a “hold” rating in a report on Friday, July 25th. Royal Bank Of Canada boosted their target price on Imperial Oil from C$115.00 to C$117.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 7th. Raymond James Financial increased their target price on Imperial Oil from C$109.00 to C$110.00 in a report on Monday, November 3rd. Finally, Cibc World Mkts cut Imperial Oil from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Six analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of C$107.88.

Imperial Oil Trading Up 2.3%

The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 18.04. The company has a market capitalization of C$66.54 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 0.21 and a beta of 0.98. The stock’s fifty day moving average price is C$125.54 and its two-hundred day moving average price is C$114.26.

Imperial Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Wednesday, October 1st were given a $0.74 dividend. The ex-dividend date was Thursday, September 4th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 2.2%. This is an increase from Imperial Oil’s previous quarterly dividend of $0.72. Imperial Oil’s dividend payout ratio is 35.25%.

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.