Imperial Oil (NYSEAMERICAN:IMO) Hits New 52-Week High - Here's What Happened

Imperial Oil Limited (NYSEAMERICAN:IMO - Get Free Report) TSE: IMO shares hit a new 52-week high on Monday . The company traded as high as $82.90 and last traded at $82.66, with a volume of 136102 shares changing hands. The stock had previously closed at $82.53.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on IMO shares. Raymond James Financial downgraded shares of Imperial Oil from a "moderate buy" rating to a "hold" rating in a research note on Thursday, July 3rd. Desjardins lowered shares of Imperial Oil from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 3rd. The Goldman Sachs Group lowered Imperial Oil from a "neutral" rating to a "sell" rating in a report on Thursday, March 27th. Wolfe Research upgraded shares of Imperial Oil from a "peer perform" rating to an "outperform" rating in a research report on Monday, April 21st. Finally, Royal Bank Of Canada reissued a "sector perform" rating and issued a $101.00 target price on shares of Imperial Oil in a research report on Thursday, April 3rd. Three research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $106.33.

Imperial Oil Price Performance

The firm has a 50 day moving average price of $75.82 and a 200 day moving average price of $70.66. The stock has a market cap of $42.33 billion, a P/E ratio of 12.43 and a beta of 0.89. The company has a quick ratio of 1.22, a current ratio of 1.48 and a debt-to-equity ratio of 0.16.

Imperial Oil Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Wednesday, June 4th were paid a dividend of $0.523 per share. This represents a $2.09 annualized dividend and a yield of 2.52%. This is a boost from Imperial Oil's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Wednesday, June 4th. Imperial Oil's dividend payout ratio (DPR) is presently 31.87%.

Institutional Trading of Imperial Oil

Several hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC lifted its position in Imperial Oil by 388.8% in the second quarter. Farther Finance Advisors LLC now owns 3,451 shares of the energy company's stock worth $274,000 after buying an additional 2,745 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Imperial Oil by 3.2% during the second quarter. Assenagon Asset Management S.A. now owns 35,968 shares of the energy company's stock valued at $2,854,000 after purchasing an additional 1,117 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Imperial Oil by 3.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 10,269 shares of the energy company's stock valued at $836,000 after purchasing an additional 337 shares during the last quarter. Baron Wealth Management LLC acquired a new stake in Imperial Oil during the 2nd quarter worth about $293,000. Finally, Lingohr Asset Management GmbH purchased a new position in shares of Imperial Oil during the 2nd quarter valued at about $204,000. 20.74% of the stock is owned by hedge funds and other institutional investors.

Imperial Oil Company Profile

Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment transports and refines crude oil, blends refined products, and distributes and markets of refined products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.