Imperial Oil (TSE:IMO) Shares Cross Above 50-Day Moving Average - What's Next?

Key Points

• Shares moved above their 50-day moving average, trading as high as C$182.45 and last at C$181.70, versus a 50-day average of C$180.83.
• Analyst sentiment is cautious: six analysts rate Imperial Oil Hold and four rate it Sell, giving the stock an average “Reduce” rating and a C$153.92 average price target.
• Imperial Oil reported quarterly EPS of C$5.11 and revenue of C$16.18 billion. Its quarterly dividend of C$0.87 equates to an annualized yield of about 1.9%.

Shares of Imperial Oil Limited (TSE:IMO - Get Free Report) NYSEMKT: IMO crossed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of C$180.83 and traded as high as C$182.45. Imperial Oil shares last traded at C$181.70, with a volume of 756,332 shares changing hands.

Analysts Set New Price Targets

Several brokerages have recently commented on IMO. Raymond James Financial upped their price target on Imperial Oil from C$130.00 to C$140.00 and gave the company an "underperform" rating in a research note on Wednesday, September 16th. National Bank Financial upped their price objective on shares of Imperial Oil from C$207.00 to C$213.00 and gave the stock a "sector perform" rating in a report on Tuesday, October 20th. ATB Cormark Capital Markets upped their price target on Imperial Oil from C$140.00 to C$175.00 and gave the stock a "sector perform" rating in a research note on Thursday, October 22nd. UBS Group boosted their price objective on Imperial Oil from C$195.00 to C$205.00 in a report on Monday, September 14th. Finally, Scotia dropped their target price on 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. Six analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and an average target price of C$153.92.

Imperial Oil Stock Up 0.7%

The company has a current ratio of 1.30, a quick ratio of 0.98 and a debt-to-equity ratio of 17.27. The company has a market cap of C$85.76 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 0.21 and a beta of 0.56. The firm's fifty day simple moving average is C$180.83 and its 200 day simple moving average is C$173.69.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO last released its quarterly earnings data on Friday, October 30th. The company reported C$5.11 earnings per share (EPS) for the quarter. Imperial Oil had a net margin of 10.85% and a return on equity of 25.85%. The business had revenue of C$16.18 billion during the quarter. Sell-side analysts predict that Imperial Oil Limited will post 8.62 earnings per share for the current year.

Imperial Oil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Thursday, October 1st were issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Friday, September 4th. Imperial Oil's dividend payout ratio is 26.49%.

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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