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

Key Points

• Imperial Oil shares reached a new 52-week high of C$192.40 and were last trading at C$191.76, up from the prior close of C$183.62.
• Despite several analysts raising their price targets, the stock carries a consensus “Reduce” rating from six Holds and four Sells, with an average target of C$152.83—well below its current price.
• Imperial Oil reported quarterly earnings of C$5.11 per share on C$16.20 billion in revenue and pays a quarterly dividend of $0.87 per share, representing a 1.8% annualized yield.

Imperial Oil Limited (TSE:IMO - Get Free Report) NYSEMKT: IMO's stock price hit a new 52-week high on Friday. The company traded as high as C$192.40 and last traded at C$191.76, with a volume of 1,088,139 shares traded. The stock had previously closed at C$183.62.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Scotia decreased their price objective on Imperial Oil from C$159.00 to C$156.00 and set a "sector perform" rating on the stock in a research note on Wednesday, August 5th. National Bank Financial boosted their target price on Imperial Oil from C$207.00 to C$213.00 and gave the stock a "sector perform" rating in a research report on Tuesday, October 20th. ATB Cormark Capital Markets boosted their price objective on Imperial Oil from C$140.00 to C$175.00 and gave the company a "sector perform" rating in a research report on Thursday, October 22nd. Raymond James Financial raised their price target on Imperial Oil from C$130.00 to C$140.00 and gave the stock an "underperform" rating in a research note on Wednesday, September 16th. Finally, JPMorgan Chase & Co. raised their target price on Imperial Oil from C$149.00 to C$158.00 in a research note on Tuesday, July 14th. Six research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average price target of C$152.83.

Imperial Oil Stock Performance

The business has a fifty day moving average price of C$181.62 and a 200-day moving average price of C$171.41. The stock has a market capitalization of C$92.83 billion, a P/E ratio of 22.43, a P/E/G ratio of 0.21 and a beta of 0.62. The company has a quick ratio of 0.98, a current ratio of 1.38 and a debt-to-equity ratio of 17.11.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO last issued its quarterly earnings results on Friday, October 30th. The company reported C$5.11 earnings per share for the quarter. The business had revenue of C$16.20 billion for the quarter. Imperial Oil had a net margin of 7.81% and a return on equity of 18.76%. On average, sell-side analysts expect that Imperial Oil Limited will post 8.62 EPS for the current 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 given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, September 4th. Imperial Oil's dividend payout ratio (DPR) 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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