Imperial Oil Limited (TSE:IMO – Get Free Report) (NYSEMKT:IMO) crossed 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.
Analysts Set New Price Targets
A number of research firms recently issued reports on IMO. National Bankshares increased their target price on Imperial Oil from C$109.00 to C$110.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 30th. CIBC increased their target price on Imperial Oil from C$105.00 to C$108.00 in a research note on Friday, January 17th. Wolfe Research cut Imperial Oil from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 3rd. Raymond James increased their target price on Imperial Oil from C$101.50 to C$104.00 in a research note on Friday, December 13th. Finally, TD Securities increased their target price on Imperial Oil from C$94.00 to C$97.00 and gave the stock a “hold” rating in a research note on Friday, February 21st. Ten research analysts have rated the stock with a hold rating, According to MarketBeat.com, Imperial Oil currently has a consensus rating of “Hold” and a consensus target price of C$104.10.
Check Out Our Latest Stock Analysis on IMO
Imperial Oil Stock Up 0.1 %
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 issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from Imperial Oil’s previous quarterly dividend of $0.60. Imperial Oil’s dividend payout ratio is presently 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.
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