Imperial Oil (TSE:IMO) Share Price Passes Below 200 Day Moving Average – Time to Sell?

Shares of Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$98.35 and traded as low as C$95.43. Imperial Oil shares last traded at C$95.83, with a volume of 1,798,370 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IMO. Wolfe Research cut Imperial Oil from a “strong-buy” rating to a “hold” rating in a report on Friday, January 3rd. Royal Bank of Canada boosted their price objective on shares of Imperial Oil from C$99.00 to C$101.00 in a research note on Wednesday, November 6th. TD Securities raised their target price on shares of 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. Raymond James lifted their target price on shares of Imperial Oil from C$101.50 to C$104.00 in a report on Friday, December 13th. Finally, BMO Capital Markets increased their price target on Imperial Oil from C$115.00 to C$120.00 in a report on Friday, October 4th. Ten investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of C$103.90.

Imperial Oil Trading Down 0.6 %

The firm has a market cap of C$51.35 billion, a P/E ratio of 10.05, a P/E/G ratio of 0.21 and a beta of 1.78. The company has a debt-to-equity ratio of 18.27, a quick ratio of 0.98 and a current ratio of 1.40. The firm has a fifty day moving average of C$98.12 and a 200-day moving average of C$98.35.

Imperial Oil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Wednesday, January 1st were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend was Tuesday, December 3rd. Imperial Oil’s payout ratio is 25.16%.

Insider Activity

In other Imperial Oil news, Director Bradley William Corson acquired 4,800 shares of Imperial Oil stock in a transaction dated Thursday, December 12th. The stock was acquired at an average cost of C$97.44 per share, for a total transaction of C$467,713.92. Corporate 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.