Imperial Oil (TSE:IMO) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$98.94 and traded as high as C$101.57. Imperial Oil shares last traded at C$99.92, with a volume of 1,623,373 shares.

Wall Street Analyst Weigh In

IMO has been the topic of several research analyst reports. TD Securities lifted their target price on Imperial Oil from C$94.00 to C$97.00 and gave the company a “hold” rating in a research note on Friday, February 21st. CIBC boosted their price objective on shares of Imperial Oil from C$105.00 to C$108.00 in a research report on Friday, January 17th. National Bankshares upped 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 note on Thursday, January 30th. JPMorgan Chase & Co. lifted their target price on shares of Imperial Oil from C$97.00 to C$100.00 in a research note on Wednesday, November 13th. Finally, Wolfe Research downgraded shares of Imperial Oil from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 3rd. Ten research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Imperial Oil has a consensus rating of “Hold” and an average target price of C$104.10.

Imperial Oil Price Performance

The company has a debt-to-equity ratio of 18.04, a current ratio of 1.44 and a quick ratio of 0.98. The stock has a market capitalization of C$50.31 billion, a P/E ratio of 10.35, a PEG ratio of 0.21 and a beta of 1.78. The stock’s fifty day moving average is C$97.74 and its 200-day moving average is C$98.86.

Imperial Oil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from Imperial Oil’s previous quarterly dividend of $0.60. Imperial Oil’s dividend payout ratio is 25.78%.

Insider Activity

In other news, Director Bradley William Corson acquired 4,800 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average cost of C$97.44 per share, with a total value of C$467,713.92. 71.26% of the stock is currently owned by insiders.

Imperial Oil Company Profile

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.