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 two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$171.26 and traded as high as C$190.43. Imperial Oil shares last traded at C$188.85, with a volume of 845,311 shares changing hands.

Analysts Set New Price Targets

IMO has been the subject of several recent research reports. Scotia decreased their target price on shares of Imperial Oil from C$159.00 to C$156.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 5th. National Bank Financial dropped their target price on shares of Imperial Oil from C$214.00 to C$209.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 5th. TD boosted their target price on Imperial Oil from C$150.00 to C$151.00 and gave the stock a “sell” rating in a research note on Wednesday, August 5th. Desjardins set a C$160.00 target price on Imperial Oil and gave the company a “hold” rating in a report on Friday, July 17th. Finally, JPMorgan Chase & Co. increased their price target on Imperial Oil from C$149.00 to C$158.00 in a research report on Tuesday, July 14th. Five equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Imperial Oil has a consensus rating of “Reduce” and a consensus price target of C$143.25.

Imperial Oil Trading Up 0.6%

The company has a quick ratio of 0.98, a current ratio of 1.38 and a debt-to-equity ratio of 17.11. The firm has a 50 day moving average of C$172.94 and a 200 day moving average of C$171.39. The firm has a market cap of C$91.88 billion, a PE ratio of 22.20, a P/E/G ratio of 0.21 and a beta of 0.40.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last released its earnings results on Friday, July 31st. The company reported C$4.52 earnings per share (EPS) for the quarter. The business had revenue of C$15.98 billion during the quarter. Imperial Oil had a return on equity of 18.76% and a net margin of 7.81%. Equities analysts anticipate that Imperial Oil Limited will post 8.6164609 earnings per share for the current year.

Imperial Oil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, July 1st were paid a dividend of $0.87 per share. The ex-dividend date was Thursday, June 4th. This represents a $3.48 annualized dividend and a dividend yield of 1.8%. Imperial Oil’s dividend payout ratio is presently 37.15%.

About Imperial Oil

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.