Imperial Oil (TSE:IMO) Reaches New 12-Month High Following Analyst Upgrade

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) hit a new 52-week high on Tuesday after ATB Capital raised their price target on the stock from C$37.75 to C$39.00. ATB Capital currently has a sector perform rating on the stock. Imperial Oil traded as high as C$37.99 and last traded at C$37.31, with a volume of 124239 shares traded. The stock had previously closed at C$37.37.

A number of other equities analysts have also weighed in on IMO. The Goldman Sachs Group restated a “buy” rating and issued a C$36.00 price objective on shares of Imperial Oil in a report on Tuesday, April 27th. BMO Capital Markets boosted their target price on shares of Imperial Oil from C$37.00 to C$40.00 and gave the company an “outperform” rating in a research note on Monday. Raymond James reiterated a “market perform” rating and set a C$34.00 target price on shares of Imperial Oil in a research note on Monday. Eight Capital boosted their target price on shares of Imperial Oil to C$31.00 and gave the company a “na” rating in a research note on Wednesday, February 17th. Finally, Credit Suisse Group boosted their target price on shares of Imperial Oil to C$40.00 and gave the company a “neutral” rating in a research note on Tuesday, April 13th. Fourteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of C$33.93.

The company has a market cap of C$26.80 billion and a P/E ratio of -20.95. The company has a debt-to-equity ratio of 25.10, a quick ratio of 0.80 and a current ratio of 1.34. The firm’s fifty day moving average is C$31.63 and its two-hundred day moving average is C$26.23.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last issued its earnings results on Tuesday, February 2nd. The company reported C$0.03 earnings per share for the quarter, missing the consensus estimate of C$0.09 by C($0.06). The company had revenue of C$6.03 billion for the quarter, compared to the consensus estimate of C$6.23 billion. On average, equities research analysts expect that Imperial Oil Limited will post 2.58 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 1st. Investors of record on Thursday, June 3rd will be issued a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, June 2nd. This represents a $1.08 annualized dividend and a yield of 2.96%. This is an increase from Imperial Oil’s previous quarterly dividend of $0.22. Imperial Oil’s dividend payout ratio is currently -50.49%.

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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