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

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

Analyst Ratings Changes

A number of research analysts recently issued reports on IMO shares. Scotiabank downgraded Imperial Oil from an “outperform” rating to a “sector perform” rating and set a C$110.00 price target on the stock. in a research note on Wednesday, September 25th. 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. National Bankshares lowered their price objective on shares of Imperial Oil from C$115.00 to C$112.00 in a research report on Friday, September 27th. BMO Capital Markets upped their target price on shares of Imperial Oil from C$115.00 to C$120.00 in a report on Friday, October 4th. Finally, TD Securities raised their price target on Imperial Oil from C$93.00 to C$96.00 and gave the stock a “hold” rating in a report on Friday, December 13th. Ten analysts have rated the stock with a hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of C$103.90.

Imperial Oil Price Performance

The company has a current ratio of 1.40, a quick ratio of 0.98 and a debt-to-equity ratio of 18.27. The company has a market cap of C$48.24 billion, a PE ratio of 9.44, a price-to-earnings-growth ratio of 0.21 and a beta of 1.78. The stock has a fifty day simple moving average of C$99.14 and a two-hundred day simple moving average of C$98.21.

Imperial Oil Dividend Announcement

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

Insider Buying and Selling at Imperial Oil

In related news, Director Bradley William Corson acquired 4,800 shares of the business’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, for a total transaction 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.