Imperial Oil Limited (TSE:IMO – Get Free Report) (NYSEMKT:IMO)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as C$185.30 and last traded at C$184.31, with a volume of 215742 shares. The stock had previously closed at C$181.62.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on IMO. Desjardins boosted their price target on Imperial Oil from C$120.00 to C$132.00 and gave the company a “sell” rating in a report on Friday, February 20th. JPMorgan Chase & Co. reduced their price objective on Imperial Oil from C$155.00 to C$149.00 in a research note on Monday, May 4th. Royal Bank Of Canada lifted their price objective on shares of Imperial Oil from C$116.00 to C$124.00 and gave the stock an “underperform” rating in a report on Wednesday, April 8th. TD Securities boosted their target price on shares of Imperial Oil from C$101.00 to C$110.00 and gave the company a “sell” rating in a research note on Monday, February 23rd. Finally, National Bank Financial increased their target price on shares of Imperial Oil from C$139.00 to C$212.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 31st. Four research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Imperial Oil has a consensus rating of “Strong Sell” and an average price target of C$137.00.
View Our Latest Analysis on Imperial Oil
Imperial Oil Price Performance
Imperial Oil (TSE:IMO – Get Free Report) (NYSEMKT:IMO) last issued its earnings results on Friday, May 1st. The company reported C$1.94 earnings per share for the quarter. Imperial Oil had a return on equity of 13.43% and a net margin of 6.27%.The firm had revenue of C$12.42 billion for the quarter. On average, equities research analysts predict that Imperial Oil Limited will post 8.6164609 earnings per share for the current year.
Imperial Oil Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Wednesday, April 1st were given a $0.87 dividend. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.72. The ex-dividend date was Thursday, March 5th. This represents a $3.48 annualized dividend and a yield of 1.9%. Imperial Oil’s payout ratio is currently 51.36%.
Insider Activity at Imperial Oil
In other news, insider Ian Robert Laing sold 4,100 shares of Imperial Oil stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of C$176.63, for a total transaction of C$724,183.00. Insiders own 71.26% of the company’s stock.
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. Imperial remains the largest refiner of petroleum products in Canada, operating three refineries with a combined processing capacity of 421 mboe/d.
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