Imperial Oil (TSE:IMO) Reaches New 1-Year High – What’s Next?

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) reached a new 52-week high on Monday . The stock traded as high as C$169.40 and last traded at C$168.92, with a volume of 163629 shares traded. The stock had previously closed at C$165.54.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. BMO Capital Markets cut shares of Imperial Oil from an “outperform” rating to a “market perform” rating and cut their price target for the company from C$132.00 to C$129.00 in a report on Monday, December 15th. Morgan Stanley increased their price target on shares of Imperial Oil from C$97.00 to C$101.00 in a research note on Thursday, November 20th. National Bank Financial upped their target price on Imperial Oil from C$127.00 to C$139.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 3rd. JPMorgan Chase & Co. lifted their price target on shares of Imperial Oil from C$99.00 to C$108.00 in a research report on Tuesday, February 3rd. Finally, Royal Bank Of Canada downgraded Imperial Oil from a “sector perform” rating to an “underperform” rating and set a C$116.00 price target for the company. in a report on Monday, February 23rd. Five analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat, Imperial Oil has an average rating of “Strong Sell” and an average target price of C$116.20.

Imperial Oil Stock Up 1.6%

The company’s 50 day simple moving average is C$148.92 and its 200-day simple moving average is C$134.54. The company has a current ratio of 1.27, a quick ratio of 0.98 and a debt-to-equity ratio of 19.69. The firm has a market cap of C$81.35 billion, a P/E ratio of 25.96, a PEG ratio of 0.21 and a beta of 0.90.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last released its quarterly earnings data on Friday, January 30th. The company reported C$1.97 earnings per share for the quarter. The firm had revenue of C$11.28 billion during the quarter. Imperial Oil had a net margin of 7.02% and a return on equity of 14.75%. Research analysts forecast that Imperial Oil Limited will post 8.6164609 earnings per share for the current fiscal year.

Imperial Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, April 1st will be given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.1%. This is a boost from Imperial Oil’s previous quarterly dividend of $0.72. The ex-dividend date is Thursday, March 5th. Imperial Oil’s dividend payout ratio (DPR) is currently 44.44%.

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.