Imperial Oil (TSE:IMO) Price Target Raised to C$140.00 at Raymond James Financial

Key Points

• Raymond James raised Imperial Oil’s price target from C$130 to C$140 but maintained an “underperform” rating, implying roughly 24% downside from the prior close.
• Analyst sentiment remains cautious: the stock has five “hold” and five “sell” ratings, with a consensus “reduce” rating and average price target of C$146.08.
• Imperial Oil shares fell 2.2% to C$184.14, while the company reported quarterly EPS of C$4.52 and revenue of C$15.98 billion in its latest results.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO had its price objective increased by equities researchers at Raymond James Financial from C$130.00 to C$140.00 in a note issued to investors on Wednesday, BayStreet reports. The brokerage currently has an "underperform" rating on the stock. Raymond James Financial's target price points to a potential downside of 23.97% from the stock's previous close.

Several other research analysts have also recently issued reports on IMO. UBS Group increased their price objective on Imperial Oil from C$195.00 to C$205.00 in a research note on Monday. TD upped their target price on Imperial Oil from C$150.00 to C$151.00 and gave the stock a "sell" rating in a report on Wednesday, August 5th. Desjardins set a C$160.00 price target on Imperial Oil and gave the stock a "hold" rating in a research report on Friday, July 17th. Scotia lowered their price objective on shares of Imperial Oil from C$159.00 to C$156.00 and set a "sector perform" rating for the company in a research note on Wednesday, August 5th. Finally, National Bank Financial dropped their target price on shares of Imperial Oil from C$214.00 to C$209.00 and set a "sector perform" rating on the stock in a report on Wednesday, August 5th. Five equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of C$146.08.

Imperial Oil Trading Down 2.2%

IMO stock traded down C$4.10 during trading on Wednesday, hitting C$184.14. The company had a trading volume of 505,059 shares, compared to its average volume of 803,755. Imperial Oil has a 52-week low of C$114.75 and a 52-week high of C$191.76. The company has a 50 day simple moving average of C$180.09 and a 200-day simple moving average of C$174.52. The firm has a market capitalization of C$89.05 billion, a P/E ratio of 21.51, a PEG ratio of 0.21 and a beta of 0.41. The company has a quick ratio of 0.98, a current ratio of 1.38 and a debt-to-equity ratio of 17.11.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO last issued its earnings results on Friday, July 31st. The company reported C$4.52 EPS 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%. As a group, research analysts forecast that Imperial Oil will post 8.6164609 earnings per share for the current fiscal year.

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.

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