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

Key Points

• Imperial Oil's stock price has surpassed its **200-day moving average**, indicating potential upward momentum, with shares currently trading at **C$126.62**.
• The company has declared an **increased quarterly dividend** of **$0.74**, representing an annualized yield of **2.3%**, up from the previous **$0.72**.
• Analysts have mixed ratings on the stock, with eight giving it a **Hold** and two a **Sell**, alongside an average target price of **C$106.00**.

Shares of Imperial Oil Limited (TSE:IMO - Get Free Report) NYSEMKT: IMO crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$106.51 and traded as high as C$130.99. Imperial Oil shares last traded at C$126.62, with a volume of 2,074,689 shares.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. TD Securities upped their price target on shares of Imperial Oil from C$95.00 to C$102.00 and gave the company a "hold" rating in a report on Thursday, August 7th. Desjardins downgraded shares of Imperial Oil from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 3rd. Scotiabank upped their target price on shares of Imperial Oil from C$100.00 to C$110.00 in a research note on Friday, July 11th. Wolfe Research downgraded shares of Imperial Oil from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 23rd. Finally, Tudor Pickering downgraded shares of Imperial Oil from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Eight equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of C$106.00.

Imperial Oil Trading Up 1.5%

The firm has a market cap of C$65.44 billion, a price-to-earnings ratio of 14.17, a P/E/G ratio of 0.21 and a beta of 1.21. 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 company's 50-day moving average is C$119.11 and its 200-day moving average is C$106.70.

Imperial Oil Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, October 1st will be issued a dividend of $0.74 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $2.96 annualized dividend and a yield of 2.3%. This is a positive change from Imperial Oil's previous quarterly dividend of $0.72. Imperial Oil's payout ratio is 29.11%.

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.