Imperial Oil (TSE:IMO) Share Price Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• Imperial Oil shares have recently surpassed their 200-day moving average at C$101.05, reaching a high of C$116.75 during trading.
• Several analysts have downgraded Imperial Oil's stock rating, with the average rating now at "Hold" and a price target of C$104.11.
• The company declared a quarterly dividend of $0.72 per share, representing an annual yield of 2.5% and a payout ratio of 25.78%.

Imperial Oil Limited (TSE:IMO - Get Free Report) NYSEMKT: IMO shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$101.05 and traded as high as C$116.75. Imperial Oil shares last traded at C$115.53, with a volume of 776,330 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on IMO shares. Raymond James Financial cut Imperial Oil from a "moderate buy" rating to a "hold" rating and boosted their price target for the stock from C$105.00 to C$107.00 in a report on Thursday, July 3rd. TD Securities lowered their target price on shares of Imperial Oil from C$94.00 to C$92.00 and set a "hold" rating on the stock in a report on Monday, April 21st. Tudor Pickering lowered shares of Imperial Oil from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Scotiabank raised their target price on shares of Imperial Oil from C$100.00 to C$110.00 in a research note on Friday, July 11th. 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 seven have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of C$104.11.

Imperial Oil Stock Down 1.0%

The business has a 50-day moving average price of C$108.48 and a 200 day moving average price of C$101.05. The company has a current ratio of 1.44, a quick ratio of 0.98 and a debt-to-equity ratio of 18.04. The stock has a market capitalization of C$60.31 billion, a P/E ratio of 12.41, a P/E/G ratio of 0.21 and a beta of 1.78.

Imperial Oil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, July 1st were given a dividend of $0.72 per share. The ex-dividend date was Wednesday, June 4th. This represents a $2.88 annualized dividend and a yield of 2.5%. Imperial Oil's dividend payout ratio (DPR) is 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.

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