Imperial Oil (TSE:IMO) Share Price Crosses Above Two Hundred Day Moving Average Following 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 share price crossed above its 200-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 200-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 traded.

Other equities research analysts have also issued research reports about the company. Royal Bank Of Canada decreased their price target on Imperial Oil from C$110.00 to C$108.00 and set a "sector perform" rating on the stock in a research note on Thursday. Tudor Pickering cut Imperial Oil from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Desjardins lowered shares of Imperial Oil from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 3rd. Scotiabank raised their target price on shares of Imperial Oil from C$100.00 to C$110.00 in a report on Friday, July 11th. Finally, Wolfe Research downgraded Imperial Oil from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat.com, Imperial Oil currently has an average rating of "Hold" and an average price target of C$106.00.

Imperial Oil Stock Up 0.8%

The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 18.04. The stock's 50 day moving average is C$110.59 and its 200 day moving average is C$101.79. The firm has a market cap of C$61.42 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 0.21 and a beta of 1.78.

Imperial Oil Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Thursday, September 4th will be issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 2.5%. This is a positive change from Imperial Oil's previous quarterly dividend of $0.72. Imperial Oil's payout ratio is currently 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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