Imperial Oil (TSE:IMO) Hits New 1-Year High - Still a Buy?

Key Points

• Imperial Oil shares reached a new 52-week high of C$192.40, with the stock last trading at C$191.17 and a market capitalization of approximately C$89.9 billion.
• Analysts remain cautious: five rate the stock “Hold” and four rate it “Sell,” producing a consensus “Reduce” rating and an average price target of C$149.36—well below its current price.
• The company reported quarterly earnings of C$4.52 per share on C$15.98 billion in revenue and pays a quarterly dividend of C$0.87, equivalent to a 1.9% annualized yield.

Imperial Oil Limited (TSE:IMO - Get Free Report) NYSEMKT: IMO's share price hit a new 52-week high during mid-day trading on Tuesday. The company traded as high as C$192.40 and last traded at C$191.17, with a volume of 12,512 shares. The stock had previously closed at C$190.83.

Analyst Ratings Changes

Several research analysts have commented on the stock. Raymond James Financial boosted their price target on shares of Imperial Oil from C$130.00 to C$140.00 and gave the stock an "underperform" rating in a report on Wednesday, September 16th. TD increased their price objective on shares of Imperial Oil from C$150.00 to C$151.00 and gave the company a "sell" rating in a research report on Wednesday, August 5th. Desjardins set a C$160.00 price objective on shares of Imperial Oil and gave the company a "hold" rating in a report on Friday, July 17th. Scotia decreased their price objective on shares of Imperial Oil from C$159.00 to C$156.00 and set a "sector perform" rating for the company in a research report on Wednesday, August 5th. Finally, National Bank Financial decreased their price objective on shares of Imperial Oil from C$214.00 to C$209.00 and set a "sector perform" rating for the company in a research report on Wednesday, August 5th. Five analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Reduce" and an average price target of C$149.36.

Imperial Oil Trading Down 2.6%

The firm has a market capitalization of C$89.90 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 0.21 and a beta of 0.62. The company has a debt-to-equity ratio of 17.11, a quick ratio of 0.98 and a current ratio of 1.38. The company has a 50-day moving average price of C$181.29 and a 200-day moving average price of C$176.08.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO last issued its earnings results on Friday, July 31st. The company reported C$4.52 earnings per share for the quarter. The business had revenue of C$15.98 billion for the quarter. Imperial Oil had a return on equity of 18.76% and a net margin of 7.81%. As a group, research analysts forecast that Imperial Oil Limited will post 8.62 EPS for the current fiscal year.

Imperial Oil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, October 1st were paid a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 1.9%. The ex-dividend date was Friday, September 4th. Imperial Oil's dividend payout ratio is currently 37.15%.

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. Imperial remains the largest refiner of petroleum products in Canada, operating three refineries with a combined processing capacity of 421 mboe/d.

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