Imperial Oil (TSE:IMO) Shares Cross Below Two Hundred Day Moving Average - What's Next?

Key Points

• Imperial Oil shares fell below their 200-day moving average, trading as low as C$169.79 versus the C$175.85 average, and last changing hands at C$170.38.
• Analyst sentiment remains cautious: five analysts rate the stock Hold and five rate it Sell, producing a consensus “Reduce” rating and an average price target of C$146.08.
• The company reported quarterly EPS of C$4.52 on C$15.98 billion in revenue and maintains a quarterly dividend of C$0.87, equivalent to an annualized yield of about 2.0%.

Imperial Oil Limited (TSE:IMO - Get Free Report) NYSEMKT: IMO shares crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$175.85 and traded as low as C$169.79. Imperial Oil shares last traded at C$170.38, with a volume of 901,351 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on IMO shares. UBS Group increased their price objective on Imperial Oil from C$195.00 to C$205.00 in a report on Monday, September 14th. Raymond James Financial lifted 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. JPMorgan Chase & Co. upped their price objective on shares of Imperial Oil from C$149.00 to C$158.00 in a report on Tuesday, July 14th. National Bank Financial cut their price objective 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 note on Wednesday, August 5th. Finally, TD raised their target price 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. Five research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average target price of C$146.08.

Imperial Oil Stock Down 2.0%

The business has a 50-day moving average price of C$180.71 and a 200-day moving average price of C$175.85. The stock has a market cap of C$82.39 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 0.21 and a beta of 0.62. The company has a current ratio of 1.38, a quick ratio of 0.98 and a debt-to-equity ratio of 17.11.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO last announced 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 for the quarter. Imperial Oil had a net margin of 7.81% and a return on equity of 18.76%. As a group, analysts forecast 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 was paid on Thursday, October 1st. Stockholders of record on Thursday, October 1st were paid a $0.87 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.0%. Imperial Oil's payout ratio is currently 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.

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