Imperial Oil (TSE:IMO) Reaches New 1-Year Low – Here’s What Happened

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as C$86.20 and last traded at C$87.79, with a volume of 69377 shares traded. The stock had previously closed at C$90.27.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. The Goldman Sachs Group cut shares of Imperial Oil from a “neutral” rating to a “sell” rating in a research note on Thursday, March 27th. CIBC upped their price objective on Imperial Oil from C$105.00 to C$108.00 in a research note on Friday, January 17th. TD Securities raised their target price on Imperial Oil from C$94.00 to C$97.00 and gave the stock a “hold” rating in a research report on Friday, February 21st. Scotiabank upgraded Imperial Oil to a “hold” rating in a research report on Wednesday, March 19th. Finally, Wolfe Research lowered Imperial Oil from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating and nine have issued a hold rating to the stock. According to data from MarketBeat.com, Imperial Oil presently has an average rating of “Hold” and a consensus price target of C$105.67.

Imperial Oil Stock Performance

The stock has a 50 day moving average price of C$99.13 and a two-hundred day moving average price of C$99.24. 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 company has a market capitalization of C$45.87 billion, a price-to-earnings ratio of 9.44, a price-to-earnings-growth ratio of 0.21 and a beta of 1.78.

Imperial Oil Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st were paid a $0.72 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This is an increase from Imperial Oil’s previous quarterly dividend of $0.60. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.28%. Imperial Oil’s payout ratio is currently 25.78%.

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.