Imperial Oil (TSE:IMO) Hits New 52-Week High - What's Next?

Shares of Imperial Oil Limited (TSE:IMO - Get Free Report) NYSEMKT: IMO hit a new 52-week high during trading on Friday . The stock traded as high as C$110.32 and last traded at C$109.42, with a volume of 128580 shares. The stock had previously closed at C$107.29.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Desjardins cut Imperial Oil from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 3rd. The Goldman Sachs Group downgraded Imperial Oil from a "neutral" rating to a "sell" rating in a report on Thursday, March 27th. TD Securities reduced 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 research report on Monday, April 21st. Scotiabank raised shares of Imperial Oil to a "hold" rating in a research report on Wednesday, March 19th. Finally, Raymond James upgraded shares of Imperial Oil from a "market perform" rating to an "outperform" rating and dropped their price objective for the stock from C$108.00 to C$104.00 in a research note on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of C$103.78.

Imperial Oil Price Performance

The firm has a market cap of C$57.58 billion, a P/E ratio of 11.85, a PEG ratio of 0.21 and a beta of 1.78. The company has a debt-to-equity ratio of 18.04, a current ratio of 1.44 and a quick ratio of 0.98. The company's 50-day moving average is C$96.42 and its two-hundred day moving average is C$97.15.

Imperial Oil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, July 1st will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend is Wednesday, June 4th. Imperial Oil's dividend payout ratio is presently 25.78%.

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.