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

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.

Wall Street Analyst Weigh In

IMO has been the subject of a number of research reports. BMO Capital Markets raised their price objective on shares of Imperial Oil from C$115.00 to C$120.00 in a report on Friday, October 4th. 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 report on Wednesday, September 25th. TD Securities increased their price target on Imperial Oil from C$93.00 to C$96.00 and gave the company a “hold” rating in a research note on Friday, December 13th. Royal Bank of Canada upped their target price on Imperial Oil from C$99.00 to C$101.00 in a report on Wednesday, November 6th. Finally, Raymond James increased their target price on shares of Imperial Oil from C$101.50 to C$104.00 in a research report on Friday, December 13th. Nine equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of C$103.90.

Imperial Oil Trading Up 0.1 %

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’s 50 day simple moving average is C$99.43 and its two-hundred day simple moving average is C$98.13. The stock has a market capitalization of C$48.24 billion, a P/E ratio of 9.44, a P/E/G ratio of 0.21 and a beta of 1.78.

Imperial Oil Dividend Announcement

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

Insider Transactions at Imperial Oil

In related news, Director Bradley William Corson purchased 4,800 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was 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 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.