Imperial Oil (TSE:IMO) Shares Cross Below Two Hundred Day Moving Average - Time to Sell?

Key Points

• Imperial Oil shares fell below their 200-day moving average, trading as low as C$171.00 versus the C$175.60 average, and last changed hands at C$173.02.
• Analyst sentiment is cautious: five analysts rate the stock Hold and five rate it Sell, resulting in a consensus “Reduce” rating and a C$146.08 target price.
• The company reported C$4.52 in quarterly EPS on C$15.98 billion in revenue and declared a quarterly dividend of C$0.87, equivalent to a 2.0% annualized yield.

Shares of Imperial Oil Limited (TSE:IMO - Get Free Report) NYSEMKT: IMO crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of C$175.60 and traded as low as C$171.00. Imperial Oil shares last traded at C$173.02, with a volume of 640,858 shares traded.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Imperial Oil from C$149.00 to C$158.00 in a research note on Tuesday, July 14th. Raymond James Financial increased their price objective on shares of 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. TD raised their price objective on shares of Imperial Oil from C$150.00 to C$151.00 and gave the stock a "sell" rating in a 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 for the company in a research report on Wednesday, August 5th. Finally, UBS Group upped their target price on shares of Imperial Oil from C$195.00 to C$205.00 in a research note on Monday, September 14th. Five investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, Imperial Oil has a consensus rating of "Reduce" and a consensus target price of C$146.08.

Imperial Oil Stock Down 0.2%

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's 50-day moving average price is C$181.18 and its 200 day moving average price is C$175.60. The firm has a market cap of C$83.67 billion, a P/E ratio of 20.21, a price-to-earnings-growth ratio of 0.21 and a beta of 0.41.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO last issued its quarterly earnings data on Friday, July 31st. The company reported C$4.52 earnings per share for the quarter. The firm had revenue of C$15.98 billion for the quarter. Imperial Oil had a net margin of 7.81% and a return on equity of 18.76%. As a group, research analysts expect that Imperial Oil Limited will post 8.6164609 earnings per share for the current year.

Imperial Oil Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, October 1st will be paid a $0.87 dividend. The ex-dividend date is Friday, September 4th. This represents a $3.48 annualized dividend and a dividend yield of 2.0%. Imperial Oil's dividend payout ratio (DPR) is presently 37.15%.

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.

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