Imperial Oil (TSE:IMO) Reaches New 52-Week High on Analyst Upgrade

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) reached a new 52-week high on Monday after National Bank Financial raised their price target on the stock from C$139.00 to C$212.00. National Bank Financial currently has a sector perform rating on the stock. Imperial Oil traded as high as C$184.27 and last traded at C$183.09, with a volume of 61585 shares. The stock had previously closed at C$181.25.

IMO has been the subject of a number of other reports. BMO Capital Markets cut Imperial Oil from an “outperform” rating to a “market perform” rating and cut their price objective for the company from C$132.00 to C$129.00 in a research report on Monday, December 15th. TD Securities increased their target price on Imperial Oil from C$101.00 to C$110.00 and gave the company a “sell” rating in a research report on Monday, February 23rd. UBS Group lifted their price target on shares of Imperial Oil from C$155.00 to C$185.00 in a research note on Monday, March 16th. Royal Bank Of Canada lowered shares of 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. Finally, Raymond James Financial upped their price objective on shares of Imperial Oil from C$107.00 to C$126.00 in a research report on Monday. Four analysts have rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Strong Sell” and a consensus target price of C$130.82.

Imperial Oil Stock Performance

The company has a quick ratio of 0.98, a current ratio of 1.27 and a debt-to-equity ratio of 19.69. The firm has a 50-day moving average price of C$160.16 and a two-hundred day moving average price of C$138.97. The firm has a market cap of C$88.12 billion, a PE ratio of 28.12, a P/E/G ratio of 0.21 and a beta of 0.90.

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

Imperial Oil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, April 1st will be paid a dividend of $0.87 per share. This is a boost from Imperial Oil’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $3.48 annualized dividend and a yield of 1.9%. Imperial Oil’s dividend payout ratio is presently 44.44%.

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. Imperial remains the largest refiner of petroleum products in Canada, operating three refineries with a combined processing capacity of 421 mboe/d.