Imperial Oil (TSE:IMO) Stock Price Crosses Below 200 Day Moving Average – Here’s Why

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of C$175.60 and traded as low as C$171.00. Imperial Oil shares last traded at C$173.02, with a volume of 640,858 shares changing hands.

Analyst Ratings Changes

Several analysts have recently commented on IMO shares. Raymond James Financial raised their target price on Imperial Oil from C$130.00 to C$140.00 and gave the company an “underperform” rating in a research note on Wednesday, September 16th. JPMorgan Chase & Co. increased their price target on Imperial Oil from C$149.00 to C$158.00 in a report on Tuesday, July 14th. Desjardins set a C$160.00 price objective on Imperial Oil and gave the company a “hold” rating in a research note on Friday, July 17th. National Bank Financial lowered their target price on Imperial Oil from C$214.00 to C$209.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 5th. Finally, UBS Group increased their target price on Imperial Oil from C$195.00 to C$205.00 in a report on Monday, September 14th. Five equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Imperial Oil presently has an average rating of “Reduce” and an average price target of C$146.08.

Imperial Oil Stock Up 1.5%

The company has a debt-to-equity ratio of 17.11, a quick ratio of 0.98 and a current ratio of 1.38. The company has a market cap of C$85.89 billion, a price-to-earnings ratio of 20.75, a price-to-earnings-growth ratio of 0.21 and a beta of 0.41. The stock’s fifty day moving average is C$181.14 and its two-hundred day moving average is C$175.67.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last announced its quarterly earnings results on Friday, July 31st. The company reported C$4.52 earnings per share for the quarter. The business had revenue of C$15.98 billion for the quarter. Imperial Oil had a net margin of 7.81% and a return on equity of 18.76%. Sell-side analysts predict that Imperial Oil Limited will post 8.6164609 earnings per share for the current fiscal year.

Imperial Oil Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, October 1st will be issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, September 4th. Imperial Oil’s dividend payout ratio (DPR) is currently 37.15%.

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. Imperial remains the largest refiner of petroleum products in Canada, operating three refineries with a combined processing capacity of 421 mboe/d.