Imperial Oil (TSE:IMO) Stock Crosses Above 50 Day Moving Average - Here's Why

Key Points

• Imperial Oil (TSE:IMO) recently moved above its 50-day moving average
• Analyst sentiment is largely negative: four analysts rate the stock Hold and five rate it Sell, producing a consensus rating of "Strong Sell" with a consensus price target of C$135.82.
• Imperial Oil raised its quarterly dividend to C$0.87 per share (annualized C$3.48), representing a roughly 2.0% yield and a payout ratio near 44.4%.

Imperial Oil Limited (TSE:IMO - Get Free Report) NYSEMKT: IMO passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$168.54 and traded as high as C$175.00. Imperial Oil shares last traded at C$171.54, with a volume of 447,611 shares trading hands.

Analyst Upgrades and Downgrades

IMO has been the topic of several recent analyst reports. Desjardins upped their target price on shares of Imperial Oil from C$120.00 to C$132.00 and gave the stock a "sell" rating in a research report on Friday, February 20th. JPMorgan Chase & Co. boosted their price target on Imperial Oil from C$108.00 to C$155.00 in a research note on Wednesday, April 8th. National Bank Financial upped their price target on Imperial Oil from C$139.00 to C$212.00 and gave the stock a "sector perform" rating in a report on Tuesday, March 31st. Raymond James Financial raised their price objective on Imperial Oil from C$107.00 to C$126.00 in a research note on Monday, March 30th. Finally, TD Securities lifted their price objective on Imperial Oil from C$101.00 to C$110.00 and gave the stock a "sell" rating in a report on Monday, February 23rd. Four equities research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Strong Sell" and a consensus price target of C$135.82.

Imperial Oil Stock Performance

The company has a current ratio of 1.27, a quick ratio of 0.98 and a debt-to-equity ratio of 19.69. The firm has a market capitalization of C$82.96 billion, a PE ratio of 26.47, a PEG ratio of 0.21 and a beta of 0.52. The stock's 50 day moving average price is C$168.54 and its two-hundred day moving average price is C$142.73.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO last announced its earnings results on Friday, January 30th. The company reported C$1.97 EPS for the quarter. The firm had revenue of C$11.28 billion for the quarter. Imperial Oil had a return on equity of 14.75% and a net margin of 7.02%. On average, equities analysts expect that Imperial Oil Limited will post 8.6164609 earnings per share for the current year.

Imperial Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Wednesday, April 1st were paid a dividend of $0.87 per share. The ex-dividend date of this dividend was Thursday, March 5th. This is an increase from Imperial Oil's previous quarterly dividend of $0.72. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.0%. Imperial Oil's dividend payout ratio is 44.44%.

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.

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