Imperial Oil (TSE:IMO) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$98.35 and traded as low as C$95.43. Imperial Oil shares last traded at C$95.83, with a volume of 1,798,370 shares traded.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Imperial Oil from C$97.00 to C$100.00 in a research note on Wednesday, November 13th. Raymond James upped their price target on shares of Imperial Oil from C$101.50 to C$104.00 in a research report on Friday, December 13th. BMO Capital Markets lifted their price objective on shares of Imperial Oil from C$115.00 to C$120.00 in a research report on Friday, October 4th. Scotiabank lowered Imperial Oil from an “outperform” rating to a “sector perform” rating and set a C$110.00 target price for the company. in a report on Wednesday, September 25th. Finally, Wolfe Research cut Imperial Oil from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 3rd. Ten research analysts have rated the stock with a hold rating, According to data from MarketBeat, Imperial Oil currently has a consensus rating of “Hold” and a consensus price target of C$103.90.

Imperial Oil Price Performance

The stock’s fifty day moving average is C$98.12 and its 200-day moving average is C$98.35. The company has a debt-to-equity ratio of 18.27, a current ratio of 1.40 and a quick ratio of 0.98. The stock has a market capitalization of C$51.35 billion, a P/E ratio of 10.05, a PEG ratio of 0.21 and a beta of 1.78.

Imperial Oil Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date was Tuesday, December 3rd. Imperial Oil’s dividend payout ratio is 25.16%.

Insider Activity at Imperial Oil

In other news, Director Bradley William Corson bought 4,800 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were purchased at an average price of C$97.44 per share, for a total transaction of C$467,713.92. 71.26% of the stock is owned by company insiders.

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.