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

Key Points

• Imperial Oil reached a new 52-week high of C$127.91, closing slightly lower at C$127.71, with significant trading volume of 245,099 shares.
• The company has recently increased its quarterly dividend to $0.74, up from $0.72, reflecting a positive trend in shareholder returns.
• Analyst ratings are mixed, with a consensus rating of "Reduce" and multiple downgrades from "strong-buy" to "hold" by several research firms.

Imperial Oil Limited (TSE:IMO - Get Free Report) NYSEMKT: IMO reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$127.91 and last traded at C$127.71, with a volume of 245099 shares traded. The stock had previously closed at C$125.99.

Analyst Ratings Changes

A number of research firms have recently issued reports on IMO. Tudor Pickering lowered shares of Imperial Oil from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Wolfe Research lowered shares of Imperial Oil from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada reduced their price target on shares of Imperial Oil from C$110.00 to C$108.00 and set a "sector perform" rating for the company in a research report on Thursday, August 7th. Scotiabank increased 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 lowered shares of Imperial Oil from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 3rd. Eight equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Imperial Oil presently has an average rating of "Reduce" and a consensus price target of C$106.00.

Imperial Oil Stock Performance

The firm's 50 day moving average price is C$117.25 and its 200-day moving average price is C$105.51. The firm has a market cap of C$65.14 billion, a price-to-earnings ratio of 14.11, a P/E/G ratio of 0.21 and a beta of 1.21. The company has a debt-to-equity ratio of 18.04, a current ratio of 1.44 and a quick ratio of 0.98.

Imperial Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, October 1st will be paid a $0.74 dividend. The ex-dividend date is Thursday, September 4th. This is a positive change from Imperial Oil's previous quarterly dividend of $0.72. This represents a $2.96 annualized dividend and a dividend yield of 2.3%. Imperial Oil's dividend payout ratio is 29.11%.

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.

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.