Imperial Oil (TSE:IMO) Stock Breaks Above 50 Day Moving Average - Here's What Happened

Imperial Oil Limited (TSE:IMO - Get Free Report) NYSEMKT: IMO's share price crossed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of C$181.71 and traded as high as C$184.38. Imperial Oil shares last traded at C$183.06, with a volume of 1,044,113 shares.

Analyst Upgrades and Downgrades

IMO has been the topic of a number of research analyst reports. UBS Group upped their target price on Imperial Oil from C$195.00 to C$205.00 in a research note on Monday, September 14th. JPMorgan Chase & Co. raised their price target on Imperial Oil from C$149.00 to C$158.00 in a report on Tuesday, July 14th. TD lifted their price target on Imperial Oil from C$150.00 to C$151.00 and gave the company a "sell" rating in a research report on Wednesday, August 5th. ATB Cormark Capital Markets boosted their price objective on Imperial Oil from C$140.00 to C$175.00 and gave the stock a "sector perform" rating in a report on Thursday, October 22nd. Finally, Raymond James Financial upped their price objective on shares of Imperial Oil from C$130.00 to C$140.00 and gave the stock an "underperform" rating in a research report on Wednesday, September 16th. Six research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of C$152.83.

Imperial Oil Stock Up 1.1%

The stock's fifty day moving average price is C$181.71 and its 200 day moving average price is C$171.12. The stock has a market cap of C$88.53 billion, a P/E ratio of 21.39, 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 posted its quarterly earnings data on Friday, July 31st. The company reported C$4.52 earnings per share for the quarter. Imperial Oil had a net margin of 7.81% and a return on equity of 18.76%. The firm had revenue of C$15.98 billion for the quarter. As a group, research analysts forecast that Imperial Oil Limited will post 8.62 earnings per share for the current fiscal year.

Imperial Oil Announces Dividend

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.