Imperial Oil (TSE:IMO) Shares Cross Above 200 Day Moving Average - What's Next?

Key Points

• Shares crossed above its 200‑day moving average — Imperial Oil traded as high as C$166.98 and last at C$165.54 versus a 200‑day MA of C$134.38, signaling a technical breakout on strong volume.
• Analysts remain bearish — five Hold and six Sell ratings leave a MarketBeat consensus of "Strong Sell" with a consensus target price of C$116.20, well below the current share price.
• Dividend increased — the company raised its quarterly dividend to C$0.87 (annualized C$3.48) with an ex‑dividend date of March 5, implying a ~2.1% yield and a ~44% payout ratio.

Shares of Imperial Oil Limited (TSE:IMO - Get Free Report) NYSEMKT: IMO crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$134.38 and traded as high as C$166.98. Imperial Oil shares last traded at C$165.54, with a volume of 732,657 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. TD Securities raised their price target on shares of Imperial Oil from C$101.00 to C$110.00 and gave the stock a "sell" rating in a report on Monday, February 23rd. National Bank Financial increased their price target on Imperial Oil from C$127.00 to C$139.00 and gave the stock a "sector perform" rating in a research note on Tuesday, February 3rd. Royal Bank Of Canada lowered Imperial Oil from a "sector perform" rating to an "underperform" rating and set a C$116.00 price objective on the stock. in a research note on Monday, February 23rd. BMO Capital Markets lowered shares of Imperial Oil from an "outperform" rating to a "market perform" rating and reduced their price target for the company from C$132.00 to C$129.00 in a research report on Monday, December 15th. Finally, JPMorgan Chase & Co. raised their price objective on Imperial Oil from C$99.00 to C$108.00 in a report on Tuesday, February 3rd. Five investment analysts have rated the stock with a Hold rating and six have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Strong Sell" and a consensus target price of C$116.20.

Imperial Oil Trading Down 0.0%

The company has a market capitalization of C$80.05 billion, a P/E ratio of 25.55, a P/E/G ratio of 0.21 and a beta of 0.90. The company has a debt-to-equity ratio of 19.69, a current ratio of 1.27 and a quick ratio of 0.98. The stock's 50 day moving average is C$148.92 and its 200-day moving average is C$134.38.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO last issued its quarterly earnings results on Friday, January 30th. The company reported C$1.97 earnings per share for the quarter. Imperial Oil had a return on equity of 14.75% and a net margin of 7.02%.The company had revenue of C$11.28 billion for the quarter. As a group, equities research analysts anticipate that Imperial Oil Limited will post 8.6164609 earnings per share for the current year.

Imperial Oil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, April 1st will be given a $0.87 dividend. This is a positive change from Imperial Oil's previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $3.48 dividend on an annualized basis and a yield of 2.1%. Imperial Oil's payout ratio is presently 44.44%.

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. Imperial remains the largest refiner of petroleum products in Canada, operating three refineries with a combined processing capacity of 421 mboe/d.

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