Imperial Oil (TSE:IMO) Stock Price Crosses Below Two Hundred Day Moving Average – What’s Next?

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) shares crossed 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 changing hands.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IMO. BMO Capital Markets increased their price objective on Imperial Oil from C$115.00 to C$120.00 in a research report on Friday, October 4th. JPMorgan Chase & Co. lifted their price objective on shares of Imperial Oil from C$97.00 to C$100.00 in a research report on Wednesday, November 13th. 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 note on Wednesday, September 25th. TD Securities raised 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 note on Friday, December 13th. Finally, Royal Bank of Canada lifted their target price on shares of Imperial Oil from C$99.00 to C$101.00 in a report on Wednesday, November 6th. Ten investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Imperial Oil has an average rating of “Hold” and a consensus target price of C$103.90.

Imperial Oil Stock Up 1.6 %

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 company has a market capitalization of C$52.40 billion, a price-to-earnings ratio of 10.25, a price-to-earnings-growth ratio of 0.21 and a beta of 1.78. The firm’s 50-day simple moving average is C$98.08 and its two-hundred day simple moving average is C$98.36.

Imperial Oil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Wednesday, January 1st were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Tuesday, December 3rd. Imperial Oil’s dividend payout ratio is currently 25.16%.

Insiders Place Their Bets

In related news, Director Bradley William Corson acquired 4,800 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average price of C$97.44 per share, with a total value 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.