Imperial Oil (TSE:IMO) Stock Crosses Above 200-Day Moving Average – Here’s Why

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$99.04 and traded as high as C$100.50. Imperial Oil shares last traded at C$98.25, with a volume of 316,851 shares.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on IMO shares. Raymond James boosted their target price on shares of Imperial Oil from C$101.50 to C$104.00 in a research report on Friday, December 13th. TD Securities boosted their price objective on shares of Imperial Oil from C$93.00 to C$96.00 and gave the company a “hold” rating in a research report on Friday, December 13th. Wolfe Research downgraded shares of Imperial Oil from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Imperial Oil from C$97.00 to C$100.00 in a research report on Wednesday, November 13th. Finally, National Bankshares boosted their price objective on shares of Imperial Oil from C$109.00 to C$110.00 and gave the company a “sector perform” rating in a research report on Thursday, January 30th. Ten research analysts have rated the stock with a hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of C$104.00.

Imperial Oil Trading Down 1.4 %

The firm has a market capitalization of C$51.29 billion, a price-to-earnings ratio of 10.55, a price-to-earnings-growth ratio of 0.21 and a beta of 1.78. The firm’s 50 day moving average is C$96.10 and its 200 day moving average is C$99.05. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 18.04.

Imperial Oil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Wednesday, January 1st were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend was Tuesday, December 3rd. Imperial Oil’s dividend payout ratio is presently 25.78%.

Insider Activity at Imperial Oil

In other news, Director Bradley William Corson purchased 4,800 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were acquired at an average price of C$97.44 per share, for a total transaction of C$467,713.92. Company insiders own 71.26% of the company’s stock.

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.