Imperial Oil (TSE:IMO) Stock Price Passes Above 200-Day Moving Average After Analyst Downgrade

Key Points

• Imperial Oil's share price surpassed its 200-day moving average, influenced by TD Securities raising its price target from C$95.00 to C$102.00.
• The company recently declared a quarterly dividend of $0.74 per share, an increase from the previous dividend of $0.72, equating to an annualized yield of 2.5%.
• Equities research analysts have mixed ratings on Imperial Oil, with a current average rating of "Hold" and an average price target of C$106.00.

Imperial Oil Limited (TSE:IMO - Get Free Report) NYSEMKT: IMO's stock price passed above its two hundred day moving average during trading on Friday after TD Securities raised their price target on the stock from C$95.00 to C$102.00. The stock has a two hundred day moving average of C$101.79 and traded as high as C$117.98. TD Securities currently has a hold rating on the stock. Imperial Oil shares last traded at C$117.65, with a volume of 1,012,098 shares.

IMO has been the subject of several other reports. Raymond James Financial downgraded shares of Imperial Oil from a "moderate buy" rating to a "hold" rating and lifted their price objective for the stock from C$105.00 to C$107.00 in a research note on Thursday, July 3rd. Royal Bank Of Canada decreased their price objective on shares of Imperial Oil from C$110.00 to C$108.00 and set a "sector perform" rating for the company in a research note on Thursday, August 7th. Tudor Pickering cut shares of Imperial Oil from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Desjardins cut shares of Imperial Oil from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 3rd. Finally, Wolfe Research cut shares of Imperial Oil from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 23rd. Two analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to MarketBeat, Imperial Oil presently has an average rating of "Hold" and an average price target of C$106.00.

Imperial Oil Price Performance

The stock's 50 day moving average is C$111.18 and its two-hundred day moving average is C$101.97. The company has a debt-to-equity ratio of 18.04, a current ratio of 1.44 and a quick ratio of 0.98. The stock has a market capitalization of C$59.86 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 0.21 and a beta of 1.78.

Imperial Oil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Thursday, September 4th will be paid a $0.74 dividend. This is a positive change from Imperial Oil's previous quarterly dividend of $0.72. This represents a $2.96 annualized dividend and a yield of 2.6%. Imperial Oil's dividend payout ratio is currently 25.78%.

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.