Imperial Oil (NYSEAMERICAN:IMO) Sets New 12-Month High – What’s Next?

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) hit a new 52-week high during trading on Monday . The company traded as high as $99.17 and last traded at $99.2770, with a volume of 493134 shares traded. The stock had previously closed at $96.13.

Analysts Set New Price Targets

IMO has been the subject of several analyst reports. Wolfe Research cut shares of Imperial Oil from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, July 23rd. BMO Capital Markets reiterated an “outperform” rating on shares of Imperial Oil in a research report on Monday, August 4th. Tudor Pickering lowered shares of Imperial Oil from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 25th. Royal Bank Of Canada restated a “sector perform” rating on shares of Imperial Oil in a research note on Wednesday, November 5th. Finally, TD Securities reaffirmed a “sell” rating on shares of Imperial Oil in a report on Tuesday, November 4th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $115.00.

Imperial Oil Stock Up 2.1%

The company has a debt-to-equity ratio of 0.16, a current ratio of 1.58 and a quick ratio of 1.34. The business’s 50 day moving average price is $91.39 and its 200 day moving average price is $84.09. The firm has a market cap of $50.10 billion, a PE ratio of 15.54 and a beta of 0.83.

Imperial Oil Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Wednesday, December 3rd will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 2.9%. The ex-dividend date is Wednesday, December 3rd. Imperial Oil’s payout ratio is 31.87%.

Institutional Trading of Imperial Oil

Institutional investors have recently made changes to their positions in the company. IMG Wealth Management Inc. acquired a new position in Imperial Oil in the 2nd quarter valued at $28,000. MAI Capital Management grew its holdings in shares of Imperial Oil by 2,275.0% during the second quarter. MAI Capital Management now owns 380 shares of the energy company’s stock worth $30,000 after buying an additional 364 shares in the last quarter. Westside Investment Management Inc. raised its position in shares of Imperial Oil by 100.0% in the third quarter. Westside Investment Management Inc. now owns 426 shares of the energy company’s stock valued at $38,000 after buying an additional 213 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Imperial Oil by 88.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the energy company’s stock valued at $39,000 after buying an additional 255 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Imperial Oil by 64.8% in the third quarter. Smartleaf Asset Management LLC now owns 430 shares of the energy company’s stock worth $40,000 after buying an additional 169 shares in the last quarter. 20.74% of the stock is owned by institutional investors and hedge funds.

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.