Imperial Oil (TSE:IMO) Sets New 52-Week High After Analyst Upgrade

Shares of Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) reached a new 52-week high during mid-day trading on Thursday after Scotiabank raised their price target on the stock from C$39.00 to C$42.00. The stock traded as high as C$42.36 and last traded at C$42.10, with a volume of 167368 shares changing hands. The stock had previously closed at C$41.25.

Other research analysts have also issued research reports about the stock. Raymond James reissued a “market perform” rating and set a C$34.00 target price on shares of Imperial Oil in a research report on Monday, May 3rd. CSFB boosted their price objective on shares of Imperial Oil from C$40.00 to C$45.00 and gave the stock a “neutral” rating in a report on Wednesday, June 2nd. National Bankshares boosted their price objective on shares of Imperial Oil from C$33.00 to C$38.00 in a report on Friday, May 14th. Credit Suisse Group boosted their price objective on shares of Imperial Oil to C$45.00 and gave the stock a “neutral” rating in a report on Wednesday, June 2nd. Finally, Tudor Pickering & Holt set a C$49.00 price objective on shares of Imperial Oil and gave the stock a “hold” rating in a report on Wednesday, June 2nd. Fourteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Imperial Oil has a consensus rating of “Hold” and an average price target of C$38.28.

The company has a debt-to-equity ratio of 24.47, a quick ratio of 0.98 and a current ratio of 1.49. The stock has a market capitalization of C$30.67 billion and a PE ratio of -23.86. The stock’s 50 day moving average is C$36.23.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last issued its earnings results on Friday, April 30th. The company reported C$0.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.60 by C($0.07). The business had revenue of C$7 billion for the quarter, compared to analysts’ expectations of C$6.79 billion. As a group, analysts forecast that Imperial Oil Limited will post 3.8718874 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 1st. Shareholders of record on Thursday, June 3rd will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Wednesday, June 2nd. This is an increase from Imperial Oil’s previous quarterly dividend of $0.22. Imperial Oil’s dividend payout ratio is presently -50.26%.

Imperial Oil Company Profile (TSE:IMO)

Imperial Oil Limited explores for, produces, and sells crude oil and natural gas in Canada. It operates through three segments: Upstream, Downstream, and Chemical. The Upstream segment explores for and produces crude oil, natural gas, synthetic oil, and bitumen. As of December 31, 2020, this segment had 138 million oil-equivalent barrels of proved undeveloped reserves.

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