Imperial Oil (TSE:IMO) Hits New 52-Week High After Analyst Upgrade

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO)’s share price reached a new 52-week high during mid-day trading on Tuesday after Desjardins raised their price target on the stock from C$165.00 to C$172.00. Desjardins currently has a hold rating on the stock. Imperial Oil traded as high as C$192.40 and last traded at C$191.17, with a volume of 12,512 shares changing hands. The stock had previously closed at C$190.83.

Several other brokerages have also commented on IMO. Scotia dropped their price target on shares of Imperial Oil from C$159.00 to C$156.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 5th. Raymond James Financial boosted their price objective on Imperial Oil from C$130.00 to C$140.00 and gave the stock an “underperform” rating in a research report on Wednesday, September 16th. Scotiabank upgraded Imperial Oil to a “hold” rating in a research report on Friday, June 26th. TD increased their price objective on Imperial Oil from C$150.00 to C$151.00 and gave the stock a “sell” rating in a report on Wednesday, August 5th. Finally, National Bank Financial raised their target price on Imperial Oil from C$207.00 to C$213.00 and gave the company a “sector perform” rating in a research report on Tuesday. Five analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, Imperial Oil has a consensus rating of “Reduce” and a consensus target price of C$150.82.

Imperial Oil Stock Up 0.2%

The stock has a market cap of C$92.14 billion, a P/E ratio of 22.26, a price-to-earnings-growth ratio of 0.21 and a beta of 0.62. The company has a current ratio of 1.38, a quick ratio of 0.98 and a debt-to-equity ratio of 17.11. The stock’s 50-day moving average is C$181.65 and its 200-day moving average is C$176.22.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last released its quarterly earnings results on Friday, July 31st. The company reported C$4.52 EPS for the quarter. Imperial Oil had a net margin of 7.81% and a return on equity of 18.76%. The company had revenue of C$15.98 billion for the quarter. As a group, research analysts anticipate that Imperial Oil Limited will post 8.62 earnings per share for the current fiscal year.

Imperial Oil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, October 1st were issued a $0.87 dividend. The ex-dividend date was Friday, September 4th. This represents a $3.48 annualized dividend and a dividend yield of 1.8%. Imperial Oil’s dividend payout ratio (DPR) is 37.15%.

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.