Imperial Oil (TSE:IMO) Sets New 1-Year Low – Should You Sell?

Shares of Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) reached a new 52-week low during trading on Monday . The company traded as low as C$86.20 and last traded at C$87.79, with a volume of 69377 shares traded. The stock had previously closed at C$90.27.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on IMO. CIBC increased their price objective on shares of Imperial Oil from C$105.00 to C$108.00 in a report on Friday, January 17th. National Bankshares boosted their price objective on Imperial Oil from C$109.00 to C$110.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 30th. TD Securities lifted their target price on Imperial Oil from C$94.00 to C$97.00 and gave the stock a “hold” rating in a report on Friday, February 21st. The Goldman Sachs Group lowered shares of Imperial Oil from a “neutral” rating to a “sell” rating in a research report on Thursday, March 27th. Finally, Scotiabank upgraded shares of Imperial Oil to a “hold” rating in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of C$105.67.

Imperial Oil Stock Performance

The company has a debt-to-equity ratio of 18.04, a quick ratio of 0.98 and a current ratio of 1.44. The company has a market capitalization of C$47.44 billion, a price-to-earnings ratio of 9.76, a P/E/G ratio of 0.21 and a beta of 1.78. The firm’s 50 day simple moving average is C$98.26 and its 200-day simple moving average is C$99.14.

Imperial Oil Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, April 1st were paid a $0.72 dividend. The ex-dividend date was Wednesday, March 5th. This is an increase from Imperial Oil’s previous quarterly dividend of $0.60. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.17%. Imperial Oil’s dividend payout ratio is 25.78%.

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.