Imperial Oil (TSE:IMO) Stock Crosses Below 200-Day Moving Average – Here’s What Happened

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO)’s stock 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 trading hands.

Analyst Ratings Changes

Several analysts have issued reports on IMO shares. JPMorgan Chase & Co. upped their price target on shares of Imperial Oil from C$97.00 to C$100.00 in a report on Wednesday, November 13th. BMO Capital Markets lifted their price objective on Imperial Oil from C$115.00 to C$120.00 in a research report on Friday, October 4th. Raymond James boosted their price objective on shares of Imperial Oil from C$101.50 to C$104.00 in a research report on Friday, December 13th. Royal Bank of Canada boosted their price target on Imperial Oil from C$99.00 to C$101.00 in a report on Wednesday, November 6th. Finally, 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 research note on Wednesday, September 25th. Nine equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Imperial Oil has an average rating of “Hold” and a consensus price target of C$103.90.

Imperial Oil Price Performance

The company has a market cap of C$47.96 billion, a PE ratio of 9.38, a price-to-earnings-growth ratio of 0.21 and a beta of 1.78. The business’s 50 day moving average price is C$100.79 and its 200-day moving average price is C$98.16. The company has a quick ratio of 0.98, a current ratio of 1.40 and a debt-to-equity ratio of 18.27.

Imperial Oil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Wednesday, January 1st will be paid 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 dividend payout ratio is presently 25.16%.

Insider Activity at Imperial Oil

In related news, Director Bradley William Corson bought 4,800 shares of the business’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. 71.26% of the stock is currently owned by company insiders.

Imperial Oil Company Profile

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.