Imperial Oil (TSE:IMO) Hits New 1-Year High – Still a Buy?

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) shares hit a new 52-week high on Tuesday. The company traded as high as C$192.40 and last traded at C$191.17, with a volume of 12,512 shares trading hands. The stock had previously closed at C$190.83.

Analysts Set New Price Targets

IMO has been the subject of a number of research analyst reports. Scotia decreased their target price on Imperial Oil from C$159.00 to C$156.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 5th. UBS Group raised their price target on Imperial Oil from C$195.00 to C$205.00 in a research note on Monday, September 14th. Raymond James Financial lifted their price target 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 note on Friday, June 26th. Finally, JPMorgan Chase & Co. boosted their price objective on Imperial Oil from C$149.00 to C$158.00 in a research note on Tuesday, July 14th. Five equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of C$149.36.

Imperial Oil Stock Down 2.6%

The firm has a 50 day simple moving average of C$181.29 and a two-hundred day simple moving average of C$176.08. The company has a market capitalization of C$89.90 billion, a PE ratio of 21.72, a P/E/G 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.

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

Imperial Oil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, October 1st were paid a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, September 4th. Imperial Oil’s payout ratio is currently 37.15%.

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.