Imperial Oil (TSE:IMO) Stock Price Crosses Below Two Hundred Day Moving Average – Time to Sell?

Shares of Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) passed 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.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IMO. JPMorgan Chase & Co. lifted their price objective on shares of Imperial Oil from C$97.00 to C$100.00 in a research note on Wednesday, November 13th. TD Securities lifted their target price 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. National Bankshares decreased their target price on shares of Imperial Oil from C$115.00 to C$112.00 in a report on Friday, September 27th. Raymond James raised their price target on shares of Imperial Oil from C$101.50 to C$104.00 in a report on Friday, December 13th. Finally, Royal Bank of Canada upped their target price on Imperial Oil from C$99.00 to C$101.00 in a research note on Wednesday, November 6th. Nine investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Imperial Oil currently has an average rating of “Hold” and an average target price of C$103.90.

Imperial Oil Trading Up 1.1 %

The stock has a market cap of C$48.57 billion, a PE ratio of 9.50, a price-to-earnings-growth ratio of 0.21 and a beta of 1.78. The stock has a 50-day moving average price of C$101.13 and a two-hundred day moving average price of C$98.17. The company has a debt-to-equity ratio of 18.27, a current ratio of 1.40 and a quick ratio of 0.98.

Imperial Oil Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Wednesday, January 1st will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Tuesday, December 3rd. Imperial Oil’s dividend payout ratio is currently 25.16%.

Insider Activity

In related news, Director Bradley William Corson acquired 4,800 shares of the stock in a transaction on Thursday, December 12th. The stock was bought 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.