Imperial Oil (TSE:IMO) Stock Price Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• Imperial Oil shares rose 1.9% and crossed above their 200-day moving average of C$166.07, trading as high as C$182.60 before closing at C$180.96.
• Analyst sentiment remains cautious: the stock has a consensus “Reduce” rating, with one Buy, four Hold, and four Sell ratings, and an average price target of C$142.45.
• Imperial Oil reported quarterly EPS of C$1.94 on C$12.42 billion in revenue and declared a quarterly dividend of $0.87 per share, equivalent to a 1.9% yield and a 51.36% payout ratio.

Imperial Oil Limited (TSE:IMO - Get Free Report) NYSEMKT: IMO's stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 traded.

Wall Street Analyst Weigh In

Several analysts have commented on IMO shares. TD decreased their price target 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. Royal Bank Of Canada raised their price objective on Imperial Oil from C$116.00 to C$124.00 and gave the company an "underperform" rating in a research report on Wednesday, April 8th. Desjardins set a C$160.00 target price on Imperial Oil and gave the stock a "hold" rating in a report on Friday, July 17th. Scotiabank upgraded Imperial Oil to a "hold" rating in a research report on Friday, June 26th. Finally, National Bank Financial increased their price target 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus target price of C$142.45.

Imperial Oil Stock Up 1.9%

The business's 50 day simple moving average is C$169.51 and its 200 day simple moving average is C$166.07. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 18.53. The firm has a market capitalization of C$87.51 billion, a PE ratio of 30.67, a PEG ratio of 0.21 and a beta of 0.39.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO last announced its earnings results on Friday, May 1st. The company reported C$1.94 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$12.42 billion for the quarter. On average, equities research analysts forecast that Imperial Oil Limited will post 8.6164609 earnings per share for the current year.

Imperial Oil Announces Dividend

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

Insider Transactions at Imperial Oil

In other Imperial Oil news, insider Ian Robert Laing sold 4,100 shares of the company's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of C$176.63, for a total transaction of C$724,183.00. Insiders sold 6,569 shares of company stock worth $1,144,955 in the last quarter. Corporate insiders own 71.26% of the company's stock.

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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