Imperial Oil (NYSEAMERICAN:IMO) Stock Breaks Below 200 Day Moving Average - Time to Sell?

Key Points

• Imperial Oil shares fell below their 200-day moving average of $124.55, trading as low as $121.57 before last changing hands at $123.54.
• Analyst views are mixed, but the overall consensus is “Reduce”, with a consensus price target of $116; five analysts rate the stock Sell, three Hold, and two Buy or Strong Buy.
• The company announced a quarterly dividend of C$0.87 per share, equivalent to C$3.48 annually and a stated yield of 2.8%.

Imperial Oil Limited (NYSEAMERICAN:IMO - Get Free Report) TSE: IMO's share price crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $124.55 and traded as low as $121.57. Imperial Oil shares last traded at $123.54, with a volume of 728,066 shares trading hands.

Analysts Set New Price Targets

Several brokerages recently issued reports on IMO. Canadian Imperial Bank of Commerce reissued an "underperform" rating on shares of Imperial Oil in a research note on Friday, October 9th. UBS Group reaffirmed a "buy" rating on shares of Imperial Oil in a research report on Monday, September 14th. Raymond James Financial reiterated an "underperform" rating on shares of Imperial Oil in a report on Wednesday, September 16th. Desjardins upgraded Imperial Oil to a "hold" rating in a report on Thursday, July 16th. Finally, TD Securities restated a "sell" rating on shares of Imperial Oil in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Reduce" and a consensus target price of $116.00.

Imperial Oil Price Performance

The firm's 50-day moving average price is $128.88 and its two-hundred day moving average price is $124.55. The stock has a market cap of $58.31 billion, a PE ratio of 13.66 and a beta of 0.55. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.16.

Imperial Oil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 1st. Shareholders of record on Thursday, December 3rd will be issued a dividend of C$0.87 per share. The ex-dividend date is Thursday, December 3rd. This represents a $3.48 dividend on an annualized basis and a yield of 2.8%. Imperial Oil's dividend payout ratio is currently 38.09%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership bought a new position in shares of Imperial Oil in the 1st quarter worth $93,097,000. Bank of New York Mellon Corp bought a new stake in Imperial Oil during the second quarter valued at about $24,051,000. Swiss National Bank boosted its position in Imperial Oil by 23.6% during the first quarter. Swiss National Bank now owns 569,676 shares of the energy company's stock valued at $74,508,000 after purchasing an additional 108,700 shares in the last quarter. Intech Investment Management LLC boosted its position in Imperial Oil by 147.7% during the third quarter. Intech Investment Management LLC now owns 57,879 shares of the energy company's stock valued at $7,134,000 after purchasing an additional 34,509 shares in the last quarter. Finally, TD Waterhouse Canada Inc. grew its stake in Imperial Oil by 3.3% in the third quarter. TD Waterhouse Canada Inc. now owns 734,540 shares of the energy company's stock valued at $90,977,000 after purchasing an additional 23,508 shares during the last quarter. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

Imperial Oil Company Profile

Imperial Oil is an integrated energy company based in Calgary, Alberta, with operations spanning oil and natural gas production, refining, and the marketing of fuels and other petroleum products. Founded in 1880, it is one of Canada's longest-standing petroleum companies and is majority-owned by Exxon Mobil.

The company produces oil and natural gas from conventional resources and oil sands, including operations at Cold Lake and Kearl, as well as its participation in the Syncrude project.

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