Imperial Oil (TSE:IMO) Stock Passes Below 200 Day Moving Average – Here’s Why

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$98.13 and traded as low as C$88.54. Imperial Oil shares last traded at C$90.02, with a volume of 1,136,142 shares traded.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on IMO shares. Royal Bank of Canada increased their target price on Imperial Oil from C$99.00 to C$101.00 in a research note on Wednesday, November 6th. Scotiabank cut shares of Imperial Oil from an “outperform” rating to a “sector perform” rating and set a C$110.00 price objective on the stock. in a research report on Wednesday, September 25th. National Bankshares lowered their target price on Imperial Oil from C$115.00 to C$112.00 in a report on Friday, September 27th. Raymond James boosted their price target on Imperial Oil from C$101.50 to C$104.00 in a report on Friday, December 13th. Finally, JPMorgan Chase & Co. increased their price objective on Imperial Oil from C$97.00 to C$100.00 in a report on Wednesday, November 13th. Nine equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of C$103.90.

Imperial Oil Price Performance

The company has a quick ratio of 0.98, a current ratio of 1.40 and a debt-to-equity ratio of 18.27. The firm has a market capitalization of C$48.24 billion, a price-to-earnings ratio of 9.44, a P/E/G ratio of 0.21 and a beta of 1.78. The company’s 50 day moving average is C$99.43 and its 200 day moving average is C$98.13.

Imperial Oil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Wednesday, January 1st were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend was Tuesday, December 3rd. Imperial Oil’s dividend payout ratio (DPR) is currently 25.16%.

Insider Buying and Selling at Imperial Oil

In other Imperial Oil news, Director Bradley William Corson bought 4,800 shares of the stock in a transaction on Thursday, December 12th. The stock was purchased at an average price of C$97.44 per share, with a total value of C$467,713.92. Insiders own 71.26% of the company’s stock.

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.