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

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO)’s stock price passed 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.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IMO. Royal Bank of Canada lifted their price objective on Imperial Oil from C$99.00 to C$101.00 in a research report 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 for the company. in a research report on Wednesday, September 25th. Wolfe Research lowered shares of Imperial Oil from a “strong-buy” rating to a “hold” rating in a report on Friday. National Bankshares cut their price target on shares of Imperial Oil from C$115.00 to C$112.00 in a report on Friday, September 27th. Finally, TD Securities upped their price objective on Imperial Oil from C$93.00 to C$96.00 and gave the company a “hold” rating in a report on Friday, December 13th. Ten equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus 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 cap of C$48.24 billion, a price-to-earnings ratio of 9.44, a PEG ratio of 0.21 and a beta of 1.78. The company’s 50-day moving average price is C$99.14 and its 200-day moving average price is C$98.21.

Imperial Oil Announces Dividend

The business also recently declared 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 of this dividend 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 25.16%.

Insider Activity

In other Imperial Oil news, Director Bradley William Corson acquired 4,800 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were acquired at an average price of C$97.44 per share, for a total transaction of C$467,713.92. Company 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.