Imperial Oil (NYSEAMERICAN:IMO) Sets New 52-Week High - Time to Buy?

Key Points

• Imperial Oil shares reached a new 52-week high of $92.51, reflecting a significant performance with a market cap of $46.66 billion.
• The company announced an increase in its quarterly dividend to $0.72 per share, leading to an annualized yield of 3.1%.
• Analyst ratings for Imperial Oil are mixed, with one Strong Buy, one Buy, five Holds, and three Sells, while the consensus price target is set at $105.50.

Imperial Oil Limited (NYSEAMERICAN:IMO - Get Free Report) TSE: IMO's stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $92.51 and last traded at $92.49, with a volume of 146043 shares changing hands. The stock had previously closed at $90.92.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IMO. BMO Capital Markets reissued an "outperform" rating on shares of Imperial Oil in a research note on Monday, August 4th. Tudor Pickering cut Imperial Oil from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Desjardins cut Imperial Oil from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 3rd. Raymond James Financial cut Imperial Oil from a "moderate buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Finally, Wolfe Research cut Imperial Oil from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $105.50.

Imperial Oil Stock Performance

The company has a quick ratio of 1.34, a current ratio of 1.58 and a debt-to-equity ratio of 0.16. The stock has a 50 day simple moving average of $86.46 and a two-hundred day simple moving average of $76.74. The stock has a market capitalization of $46.09 billion, a P/E ratio of 14.15 and a beta of 0.94.

Imperial Oil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Thursday, September 4th will be paid a $0.72 dividend. This is a positive change from Imperial Oil's previous quarterly dividend of $0.52. This represents a $2.88 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Thursday, September 4th. Imperial Oil's dividend payout ratio is 31.56%.

Institutional Trading of Imperial Oil

Several institutional investors and hedge funds have recently bought and sold shares of IMO. Captrust Financial Advisors bought a new stake in Imperial Oil in the fourth quarter valued at approximately $246,000. Group One Trading LLC raised its stake in Imperial Oil by 29.7% in the fourth quarter. Group One Trading LLC now owns 755 shares of the energy company's stock valued at $47,000 after buying an additional 173 shares during the period. Twinbeech Capital LP bought a new stake in Imperial Oil in the fourth quarter valued at approximately $845,000. Voloridge Investment Management LLC raised its stake in Imperial Oil by 20.1% in the fourth quarter. Voloridge Investment Management LLC now owns 389,248 shares of the energy company's stock valued at $23,978,000 after buying an additional 65,011 shares during the period. Finally, USS Investment Management Ltd bought a new stake in Imperial Oil in the fourth quarter valued at approximately $3,152,000. Institutional investors own 20.74% of the company's stock.

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.