Imperial Oil (TSE:IMO) Shares Pass Above 200-Day Moving Average – What’s Next?

Shares of Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$98.72 and traded as high as C$99.30. Imperial Oil shares last traded at C$98.84, with a volume of 437,679 shares traded.

Wall Street Analyst Weigh In

IMO has been the subject of several research analyst reports. National Bankshares raised their target price on Imperial Oil from C$109.00 to C$110.00 and gave the company a “sector perform” rating in a research report on Thursday, January 30th. Wolfe Research lowered shares of Imperial Oil from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 3rd. CIBC increased their target price on shares of Imperial Oil from C$105.00 to C$108.00 in a research report on Friday, January 17th. Raymond James lifted their price target on shares of Imperial Oil from C$101.50 to C$104.00 in a report on Friday, December 13th. Finally, TD Securities increased their price objective on Imperial Oil from C$94.00 to C$97.00 and gave the company a “hold” rating in a report on Friday, February 21st. Ten equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Imperial Oil currently has an average rating of “Hold” and a consensus price target of C$104.10.

Imperial Oil Stock Performance

The company’s 50-day moving average is C$98.52 and its two-hundred day moving average is C$98.71. The company has a market capitalization of C$53.23 billion, a P/E ratio of 10.95, a PEG ratio of 0.21 and a beta of 1.78. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 18.04.

Imperial Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.72 per share. The ex-dividend date is Wednesday, March 5th. This represents a $2.88 annualized dividend and a dividend yield of 2.82%. This is a boost from Imperial Oil’s previous quarterly dividend of $0.60. Imperial Oil’s dividend payout ratio (DPR) is 25.78%.

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.