Imperial Oil (TSE:IMO) Reaches New 12-Month High - Should You Buy?

Imperial Oil Limited (TSE:IMO - Get Free Report) NYSEMKT: IMO's share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$114.12 and last traded at C$112.51, with a volume of 349713 shares traded. The stock had previously closed at C$113.85.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Raymond James Financial lowered shares of Imperial Oil from a "moderate buy" rating to a "hold" rating and increased their price objective for the stock from C$105.00 to C$107.00 in a research report on Thursday, July 3rd. Scotiabank increased their price objective on shares of Imperial Oil from C$100.00 to C$110.00 in a research report on Friday, July 11th. Desjardins lowered shares of Imperial Oil from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 3rd. The Goldman Sachs Group lowered shares of Imperial Oil from a "neutral" rating to a "sell" rating in a research report on Thursday, March 27th. Finally, TD Securities dropped their price objective on shares of Imperial Oil from C$94.00 to C$92.00 and set a "hold" rating for the company in a research report on Monday, April 21st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of C$104.11.

Imperial Oil Stock Performance

The stock's fifty day moving average is C$104.96 and its two-hundred day moving average is C$99.24. The firm has a market capitalization of C$58.56 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 0.21 and a beta of 1.78. The company has a debt-to-equity ratio of 18.04, a quick ratio of 0.98 and a current ratio of 1.44.

Imperial Oil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, July 1st were issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend was Wednesday, June 4th. Imperial Oil's payout ratio is 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.