Imperial Oil (TSE:IMO) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$166.07 and traded as high as C$182.60. Imperial Oil shares last traded at C$180.96, with a volume of 886,187 shares.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. TD dropped their target price on shares of Imperial Oil from C$156.00 to C$150.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Scotiabank raised shares of Imperial Oil to a “hold” rating in a research report on Friday, June 26th. Royal Bank Of Canada boosted their price objective on shares of Imperial Oil from C$116.00 to C$124.00 and gave the stock an “underperform” rating in a report on Wednesday, April 8th. JPMorgan Chase & Co. upped their price objective on Imperial Oil from C$149.00 to C$158.00 in a research report on Tuesday, July 14th. Finally, National Bank Financial increased their target price on Imperial Oil from C$212.00 to C$214.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 8th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of C$142.45.

Imperial Oil Trading Up 0.5%

The company has a debt-to-equity ratio of 18.53, a quick ratio of 0.98 and a current ratio of 1.23. The firm has a market cap of C$87.89 billion, a PE ratio of 30.81, a price-to-earnings-growth ratio of 0.21 and a beta of 0.39. The stock has a 50-day simple moving average of C$169.44 and a two-hundred day simple moving average of C$166.46.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last announced its quarterly earnings results on Friday, July 31st. The company reported C$4.52 earnings per share (EPS) for the quarter. Imperial Oil had a net margin of 6.13% and a return on equity of 13.38%. The firm had revenue of C$16.06 billion for the quarter. As a group, sell-side analysts anticipate that Imperial Oil Limited will post 8.6164609 EPS for the current year.

Imperial Oil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, July 1st were given a dividend of $0.87 per share. The ex-dividend date was Thursday, June 4th. This represents a $3.48 dividend on an annualized basis and a yield of 1.9%. Imperial Oil’s dividend payout ratio is 51.36%.

Insider Transactions at Imperial Oil

In other Imperial Oil news, insider Ian Robert Laing sold 4,100 shares of Imperial Oil 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 a total of 6,569 shares of company stock valued at $1,144,955 in the last 90 days. Company insiders own 71.26% of the company’s stock.

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.