Imperial Oil (TSE:IMO) Reaches New 12-Month High – Here’s What Happened

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) shares reached a new 52-week high during trading on Tuesday . The company traded as high as C$178.80 and last traded at C$178.80, with a volume of 173857 shares traded. The stock had previously closed at C$173.90.

Analysts Set New Price Targets

Several research analysts recently weighed in on IMO shares. UBS Group raised their target price on Imperial Oil from C$155.00 to C$185.00 in a research note on Monday, March 16th. JPMorgan Chase & Co. upped their price target on shares of Imperial Oil from C$99.00 to C$108.00 in a report on Tuesday, February 3rd. TD Securities lifted their price objective on shares of Imperial Oil from C$101.00 to C$110.00 and gave the stock a “sell” rating in a research note on Monday, February 23rd. Desjardins boosted their target price on shares of Imperial Oil from C$120.00 to C$132.00 and gave the stock a “sell” rating in a report on Friday, February 20th. Finally, BMO Capital Markets lowered shares of Imperial Oil from an “outperform” rating to a “market perform” rating and cut their target price for the company from C$132.00 to C$129.00 in a research note on Monday, December 15th. Four analysts have rated the stock with a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Strong Sell” and a consensus target price of C$122.45.

Imperial Oil Stock Up 1.4%

The company has a market capitalization of C$87.11 billion, a price-to-earnings ratio of 27.80, a price-to-earnings-growth ratio of 0.21 and a beta of 0.90. The company has a quick ratio of 0.98, a current ratio of 1.27 and a debt-to-equity ratio of 19.69. The business has a 50-day moving average price of C$156.56 and a 200-day moving average price of C$137.32.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last issued its quarterly earnings results on Friday, January 30th. The company reported C$1.97 earnings per share for the quarter. The firm had revenue of C$11.28 billion for the quarter. Imperial Oil had a return on equity of 14.75% and a net margin of 7.02%. As a group, equities analysts anticipate that Imperial Oil Limited will post 8.6164609 earnings per share for the current fiscal year.

Imperial Oil Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, April 1st will be given a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 1.9%. This is an increase from Imperial Oil’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Thursday, March 5th. Imperial Oil’s payout ratio is 44.44%.

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.