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

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) hit a new 52-week high during mid-day 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 trading hands. The stock had previously closed at C$130.98.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on IMO shares. TD Securities increased 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. Cibc World Mkts downgraded Imperial Oil from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Wolfe Research cut Imperial Oil from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 23rd. Tudor Pickering lowered Imperial Oil from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 25th. Finally, JPMorgan Chase & Co. increased their price objective on Imperial Oil from C$101.00 to C$110.00 in a report on Thursday, October 23rd. Six research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of C$107.88.

Imperial Oil Stock Up 2.3%

The company has a debt-to-equity ratio of 18.04, a current ratio of 1.44 and a quick ratio of 0.98. The stock has a 50 day simple moving average of C$125.54 and a 200-day simple moving average of C$114.26. The firm has a market cap of C$66.54 billion, a PE ratio of 17.10, a PEG ratio of 0.21 and a beta of 0.98.

Imperial Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Wednesday, October 1st were given a dividend of $0.74 per share. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $2.96 annualized dividend and a yield of 2.2%. 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.