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

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as C$185.30 and last traded at C$184.31, with a volume of 215742 shares trading hands. The stock had previously closed at C$181.62.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. National Bank Financial boosted their price target on shares of Imperial Oil from C$139.00 to C$212.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 31st. Royal Bank Of Canada boosted their price target on shares of Imperial Oil from C$116.00 to C$124.00 and gave the company an “underperform” rating in a research report on Wednesday, April 8th. Raymond James Financial boosted their price target on shares of Imperial Oil from C$107.00 to C$126.00 in a research report on Monday, March 30th. JPMorgan Chase & Co. lowered their price target on shares of Imperial Oil from C$155.00 to C$149.00 in a research report on Monday, May 4th. Finally, TD Securities boosted their price target on shares of Imperial Oil from C$101.00 to C$110.00 and gave the company a “sell” rating in a research report on Monday, February 23rd. Four analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Strong Sell” and an average target price of C$137.00.

Imperial Oil Stock Up 2.0%

The company has a market cap of C$89.59 billion, a P/E ratio of 31.40, a price-to-earnings-growth ratio of 0.21 and a beta of 0.65. The company has a 50 day moving average of C$174.56 and a 200-day moving average of C$149.93. The company has a debt-to-equity ratio of 18.20, a current ratio of 1.23 and a quick ratio of 0.98.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last announced its earnings results on Friday, May 1st. The company reported C$1.94 earnings per share for the quarter. Imperial Oil had a return on equity of 13.43% and a net margin of 6.27%.The business had revenue of C$12.42 billion for the quarter. On average, equities analysts predict that Imperial Oil Limited will post 8.6164609 earnings per share for the current year.

Imperial Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Wednesday, April 1st were issued a dividend of $0.87 per share. The ex-dividend date of this dividend was Thursday, March 5th. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.72. This represents a $3.48 annualized dividend and a dividend yield of 1.9%. Imperial Oil’s payout ratio is presently 51.36%.

Insider Buying and Selling at Imperial Oil

In related news, insider Ian Robert Laing sold 4,100 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of C$176.63, for a total value of C$724,183.00. Insiders have sold 6,569 shares of company stock valued at $1,144,955 in the last quarter. 71.26% of the stock is currently owned by corporate insiders.

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