Imperial Oil (TSE:IMO) Insider Sells 2,429 Shares

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) insider Ian Robert Laing sold 2,429 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of C$170.32, for a total value of C$413,707.28. Following the completion of the transaction, the insider directly owned 4,100 shares of the company’s stock, valued at approximately C$698,312. This represents a 37.20% decrease in their ownership of the stock.

Imperial Oil Price Performance

TSE IMO traded up C$4.18 during mid-day trading on Monday, hitting C$177.88. The stock had a trading volume of 595,873 shares, compared to its average volume of 866,688. The firm’s 50 day moving average is C$172.27 and its 200 day moving average is C$147.71. Imperial Oil Limited has a twelve month low of C$97.03 and a twelve month high of C$185.73. The company has a debt-to-equity ratio of 18.20, a current ratio of 1.23 and a quick ratio of 0.98. The stock has a market capitalization of C$86.02 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 0.21 and a beta of 0.65.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last posted its quarterly earnings data on Friday, May 1st. The company reported C$1.94 EPS for the quarter. Imperial Oil had a return on equity of 13.43% and a net margin of 6.27%.The firm had revenue of C$12.42 billion during the quarter. Equities research analysts forecast that Imperial Oil Limited will post 8.6164609 earnings per share for the current fiscal year.

Imperial Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Wednesday, April 1st were paid a $0.87 dividend. The ex-dividend date of this dividend was Thursday, March 5th. This represents a $3.48 annualized dividend and a yield of 2.0%. This is an increase from Imperial Oil’s previous quarterly dividend of $0.72. Imperial Oil’s dividend payout ratio is currently 51.36%.

Wall Street Analyst Weigh In

Several research analysts recently commented on IMO shares. JPMorgan Chase & Co. reduced their price objective on Imperial Oil from C$155.00 to C$149.00 in a research note on Monday, May 4th. Royal Bank Of Canada increased their price objective on Imperial Oil from C$116.00 to C$124.00 and gave the company an “underperform” rating in a research note on Wednesday, April 8th. Raymond James Financial raised their target price on Imperial Oil from C$107.00 to C$126.00 in a research note on Monday, March 30th. TD Securities raised their target price on Imperial Oil from C$101.00 to C$110.00 and gave the stock a “sell” rating in a research note on Monday, February 23rd. Finally, UBS Group raised their target price on Imperial Oil from C$155.00 to C$185.00 in a research note on Monday, March 16th. Four research analysts have rated the stock with a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, Imperial Oil has a consensus rating of “Strong Sell” and an average price target of C$137.08.

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.