Imperial Oil (TSE:IMO) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$169.26 and traded as high as C$182.13. Imperial Oil shares last traded at C$182.00, with a volume of 721,731 shares trading hands.

Wall Street Analysts Forecast Growth

IMO has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on Imperial Oil from C$149.00 to C$158.00 in a research note on Tuesday, July 14th. Desjardins set a C$160.00 price target on Imperial Oil and gave the company a “hold” rating in a research report on Friday, July 17th. TD lifted their price target on 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 cut their price objective on Imperial Oil from C$214.00 to C$209.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 5th. Finally, Scotia reduced their price objective on Imperial Oil from C$159.00 to C$156.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 5th. Five research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and an average price target of C$143.25.

Imperial Oil Price Performance

The company has a current ratio of 1.38, a quick ratio of 0.98 and a debt-to-equity ratio of 17.11. The company has a market cap of C$89.53 billion, a P/E ratio of 21.63, a PEG ratio of 0.21 and a beta of 0.40. The business’s fifty day moving average is C$170.64 and its 200 day moving average is C$169.58.

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

Imperial Oil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, July 1st were issued a $0.87 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $3.48 annualized dividend and a yield of 1.9%. Imperial Oil’s dividend payout ratio (DPR) is 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.