Imperial Oil (TSE:IMO) Reaches New 52-Week High – Should You Buy?

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 traded. The stock had previously closed at C$138.89.

Analyst Ratings Changes

Several research analysts have recently weighed in on IMO shares. JPMorgan Chase & Co. upped their price objective on shares of Imperial Oil from C$101.00 to C$110.00 in a report on Thursday, October 23rd. CIBC lowered Imperial Oil from a “neutral” rating to an “underperform” rating and increased their price objective for the stock from C$108.00 to C$110.00 in a research report on Wednesday, October 15th. Raymond James Financial lifted their target price on Imperial Oil from C$109.00 to C$110.00 in a research report on Monday, November 3rd. TD Securities upped their target price on shares of Imperial Oil from C$104.00 to C$107.00 and gave the company a “sell” rating in a research report on Tuesday, November 4th. Finally, Royal Bank Of Canada lifted their target price on shares of Imperial Oil from C$115.00 to C$117.00 and gave the company a “sector perform” rating in a report on Tuesday, October 7th. Six investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of C$107.88.

Imperial Oil Stock Performance

The company has a market capitalization of C$68.64 billion, a PE ratio of 17.64, a P/E/G ratio of 0.21 and a beta of 0.98. The company has a debt-to-equity ratio of 18.04, a quick ratio of 0.98 and a current ratio of 1.44. The stock’s 50-day simple moving average is C$127.57 and its 200 day simple moving average is C$116.32.

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

Imperial Oil Increases Dividend

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