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

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$122.34 and traded as low as C$120.09. Imperial Oil shares last traded at C$120.80, with a volume of 1,112,225 shares traded.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on IMO. Royal Bank Of Canada lifted their price target on Imperial Oil from C$115.00 to C$117.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 7th. Morgan Stanley lifted their target price on Imperial Oil from C$97.00 to C$101.00 in a report on Thursday, November 20th. JPMorgan Chase & Co. upped their price target on shares of Imperial Oil from C$101.00 to C$110.00 in a research note on Thursday, October 23rd. Cibc World Mkts cut shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Finally, Desjardins boosted their price objective on shares of Imperial Oil from C$114.00 to C$120.00 and gave the company a “sell” rating in a report on Monday, November 24th. Six investment analysts have rated the stock with a Hold rating and six have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of C$112.30.

Imperial Oil Trading Up 0.2%

The firm’s fifty day simple moving average is C$127.83 and its 200 day simple moving average is C$122.34. The stock has a market capitalization of C$60.02 billion, a P/E ratio of 15.43, a price-to-earnings-growth ratio of 0.21 and a beta of 0.89. The company has a debt-to-equity ratio of 18.04, a quick ratio of 0.98 and a current ratio of 1.44.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last posted its quarterly earnings results on Friday, October 31st. The company reported C$2.17 earnings per share (EPS) for the quarter. Imperial Oil had a net margin of 10.00% and a return on equity of 21.23%. The business had revenue of C$11.99 billion for the quarter. As a group, equities research analysts forecast that Imperial Oil Limited will post 8.6164609 EPS for the current fiscal year.

Imperial Oil Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 1st. Stockholders of record on Thursday, January 1st were paid a $0.72 dividend. The ex-dividend date was Wednesday, December 3rd. This represents a $2.88 annualized dividend and a dividend yield of 2.4%. Imperial Oil’s dividend payout ratio (DPR) is presently 35.25%.

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