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

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$98.94 and traded as high as C$101.57. Imperial Oil shares last traded at C$99.92, with a volume of 1,623,373 shares trading hands.

Analyst Ratings Changes

IMO has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised their target price on Imperial Oil from C$97.00 to C$100.00 in a research report on Wednesday, November 13th. Wolfe Research cut Imperial Oil from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 3rd. CIBC raised their target price on Imperial Oil from C$105.00 to C$108.00 in a research report on Friday, January 17th. Raymond James raised their target price on Imperial Oil from C$101.50 to C$104.00 in a research report on Friday, December 13th. Finally, TD Securities raised their price target on shares of Imperial Oil from C$94.00 to C$97.00 and gave the company a “hold” rating in a research note on Friday, February 21st. Ten investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of C$104.10.

Imperial Oil Price Performance

The company has a debt-to-equity ratio of 18.04, a quick ratio of 0.98 and a current ratio of 1.44. The stock’s 50 day moving average is C$97.44 and its two-hundred day moving average is C$98.94. The stock has a market capitalization of C$52.16 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 0.21 and a beta of 1.78.

Imperial Oil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 2.88%. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Wednesday, March 5th. Imperial Oil’s dividend payout ratio (DPR) is 25.78%.

Insiders Place Their Bets

In other Imperial Oil news, Director Bradley William Corson bought 4,800 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were acquired at an average cost of C$97.44 per share, with a total value of C$467,713.92. Corporate insiders own 71.26% of the company’s stock.

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.