Imperial Oil (TSE:IMO) Shares Pass Above 200 Day Moving Average – Here’s Why

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IMO. National Bankshares increased their price target on shares of 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. Raymond James increased their target price on shares of Imperial Oil from C$101.50 to C$104.00 in a report on Friday, December 13th. CIBC boosted their price target on shares of 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. Finally, TD Securities boosted their target price on 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 research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of C$104.10.

Imperial Oil Trading Up 1.4 %

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 has a market capitalization of C$53.23 billion, a P/E ratio of 10.95, a price-to-earnings-growth ratio of 0.21 and a beta of 1.78. The stock has a 50-day moving average price of C$98.52 and a two-hundred day moving average price of C$98.71.

Imperial Oil Increases Dividend

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