Ian Robert Laing Sells 2,429 Shares of Imperial Oil (TSE:IMO) Stock

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) insider Ian Robert Laing sold 2,429 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of C$170.32, for a total value of C$413,707.28. Following the sale, the insider directly owned 4,100 shares in the company, valued at C$698,312. This represents a 37.20% decrease in their position.

Ian Robert Laing also recently made the following trade(s):

• On Monday, May 11th, Ian Robert Laing sold 4,100 shares of Imperial Oil stock. The stock was sold at an average price of C$176.63, for a total value of C$724,183.00.

Imperial Oil Stock Up 2.6%

Imperial Oil stock opened at C$182.46 on Wednesday. Imperial Oil Limited has a twelve month low of C$97.03 and a twelve month high of C$185.73. The stock’s fifty day simple moving average is C$173.39 and its 200-day simple moving average is C$148.91. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 18.20. The firm has a market capitalization of C$88.24 billion, a P/E ratio of 30.93, a P/E/G ratio of 0.21 and a beta of 0.65.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last posted its quarterly earnings data on Friday, May 1st. The company reported C$1.94 earnings per share for the quarter. Imperial Oil had a return on equity of 13.43% and a net margin of 6.27%.The business had revenue of C$12.42 billion for the quarter. As a group, equities analysts expect that Imperial Oil Limited will post 8.6164609 earnings per share for the current fiscal year.

Imperial Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Wednesday, April 1st were given a dividend of $0.87 per share. This is an increase from Imperial Oil’s previous quarterly dividend of $0.72. This represents a $3.48 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Thursday, March 5th. Imperial Oil’s dividend payout ratio is currently 51.36%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on IMO. TD upped their price objective on Imperial Oil from C$110.00 to C$157.00 and gave the stock a “sell” rating in a research report on Thursday, April 16th. UBS Group upped their price objective on Imperial Oil from C$155.00 to C$185.00 in a research report on Monday, March 16th. JPMorgan Chase & Co. cut their price objective on Imperial Oil from C$155.00 to C$149.00 in a research report on Monday, May 4th. Raymond James Financial increased their target price on Imperial Oil from C$107.00 to C$126.00 in a report on Monday, March 30th. Finally, TD Securities increased their target price on Imperial Oil from C$101.00 to C$110.00 and gave the company a “sell” rating in a report on Monday, February 23rd. Four analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Strong Sell” and an average price target of C$137.08.

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.