Imperial Oil (TSE:IMO) Shares Pass Below 200 Day Moving Average – What’s Next?

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$98.17 and traded as low as C$89.13. Imperial Oil shares last traded at C$90.65, with a volume of 401,080 shares.

Analyst Ratings Changes

A number of brokerages have issued reports on IMO. Royal Bank of Canada lifted their price target on Imperial Oil from C$99.00 to C$101.00 in a report on Wednesday, November 6th. National Bankshares lowered their target price on shares of Imperial Oil from C$115.00 to C$112.00 in a report on Friday, September 27th. TD Securities lifted their price target 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. Raymond James boosted their target price on Imperial Oil from C$101.50 to C$104.00 in a report on Friday, December 13th. Finally, BMO Capital Markets raised their price target on Imperial Oil from C$115.00 to C$120.00 in a research note on Friday, October 4th. Nine analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of C$103.90.

Imperial Oil Stock Down 1.3 %

The company has a debt-to-equity ratio of 18.27, a quick ratio of 0.98 and a current ratio of 1.40. The firm has a market capitalization of C$47.96 billion, a price-to-earnings ratio of 9.38, a PEG ratio of 0.21 and a beta of 1.78. The firm has a fifty day moving average price of C$100.79 and a 200 day moving average price of C$98.16.

Imperial Oil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Wednesday, January 1st will be given a dividend of $0.60 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $2.40 annualized dividend and a dividend yield of 2.68%. Imperial Oil’s payout ratio is currently 25.16%.

Insider Activity

In other 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 purchased at an average cost of C$97.44 per share, with a total value of C$467,713.92. 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.