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

Shares of Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) 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 research firms have commented on IMO. Royal Bank of Canada boosted their target price on shares of Imperial Oil from C$99.00 to C$101.00 in a research report on Wednesday, November 6th. CIBC boosted their target price on shares of Imperial Oil from C$105.00 to C$108.00 in a research report on Friday, January 17th. 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 target price on shares of Imperial Oil from C$93.00 to C$96.00 and gave the stock a “hold” rating in a research report on Friday, December 13th. Finally, National Bankshares upped their price objective on shares of Imperial Oil from C$109.00 to C$110.00 and gave the stock a “sector perform” rating in a report on Thursday, January 30th. Ten research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of C$104.00.

Imperial Oil Stock Performance

The stock has a market capitalization of C$51.29 billion, a price-to-earnings ratio of 10.55, a P/E/G ratio of 0.21 and a beta of 1.78. The company’s fifty day simple moving average is C$96.10 and its 200 day simple 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 Dividend Announcement

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

Insiders Place Their Bets

In other Imperial Oil news, Director Bradley William Corson acquired 4,800 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average price of C$97.44 per share, for a total transaction of C$467,713.92. Corporate 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.