Imperial Oil (TSE:IMO) Sets New 52-Week High - Still a Buy?

Imperial Oil Limited (TSE:IMO - Get Free Report) NYSEMKT: IMO's stock price hit a new 52-week high on Wednesday . The stock traded as high as C$114.84 and last traded at C$114.97, with a volume of 195323 shares trading hands. The stock had previously closed at C$113.62.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IMO. Raymond James Financial downgraded shares of Imperial Oil from a "moderate buy" rating to a "hold" rating and lifted their target price for the company from C$105.00 to C$107.00 in a report on Thursday, July 3rd. TD Securities dropped their target price on shares of Imperial Oil from C$94.00 to C$92.00 and set a "hold" rating for the company in a report on Monday, April 21st. Wolfe Research downgraded shares of Imperial Oil from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. Scotiabank lifted their price target on shares of Imperial Oil from C$100.00 to C$110.00 in a research report on Friday, July 11th. Finally, Desjardins downgraded shares of Imperial Oil from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 3rd. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of C$104.11.

Imperial Oil Stock Up 0.2%

The company has a market cap of C$59.91 billion, a PE ratio of 12.33, a P/E/G ratio of 0.21 and a beta of 1.78. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 18.04. The firm's fifty day simple moving average is C$107.13 and its 200-day simple moving average is C$100.46.

Imperial Oil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, July 1st were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend was Wednesday, June 4th. Imperial Oil's dividend payout ratio (DPR) is presently 25.78%.

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.