Imperial Oil (TSE:IMO) Stock Price Expected to Rise, ATB Cormark Capital Markets Analyst Says

Key Points

• ATB Cormark raised Imperial Oil’s price target from C$140 to C$175 while maintaining a “sector perform” rating, implying 5.29% downside from the prior close.
• Analyst sentiment remains cautious: Imperial Oil has an average “Reduce” rating and a consensus target price of C$152.83, despite several firms recently increasing their targets.
• The stock fell 3.0% to C$184.78, though it remains near its 52-week high of C$192.40; the company most recently reported C$4.52 in quarterly EPS and C$15.98 billion in revenue.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO had its price target hoisted by stock analysts at ATB Cormark Capital Markets from C$140.00 to C$175.00 in a research note issued to investors on Thursday, BayStreet reports. The brokerage presently has a "sector perform" rating on the stock. ATB Cormark Capital Markets's price objective would indicate a potential downside of 5.29% from the company's previous close.

Several other research firms have also recently weighed in on IMO. National Bank Financial increased their price objective on shares of Imperial Oil from C$207.00 to C$213.00 and gave the stock a "sector perform" rating in a research report on Tuesday. Raymond James Financial boosted their target price on shares of Imperial Oil from C$130.00 to C$140.00 and gave the company an "underperform" rating in a report on Wednesday, September 16th. UBS Group upped their price target on shares of Imperial Oil from C$195.00 to C$205.00 in a research report on Monday, September 14th. TD upped their price target on shares of Imperial Oil from C$150.00 to C$151.00 and gave the company a "sell" rating in a research report on Wednesday, August 5th. Finally, Desjardins increased their price target on Imperial Oil from C$165.00 to C$172.00 and gave the stock a "hold" rating in a report on Tuesday. Six equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus target price of C$152.83.

Imperial Oil Trading Down 3.0%

IMO stock traded down C$5.75 during trading on Thursday, hitting C$184.78. The company had a trading volume of 597,535 shares, compared to its average volume of 827,075. The stock has a market cap of C$89.36 billion, a PE ratio of 21.59, a PEG ratio of 0.21 and a beta of 0.62. The business has a 50-day moving average of C$181.65 and a 200-day moving average of C$176.22. The company has a current ratio of 1.38, a quick ratio of 0.98 and a debt-to-equity ratio of 17.11. Imperial Oil has a one year low of C$114.75 and a one year high of C$192.40.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO last released its quarterly earnings results on Friday, July 31st. The company reported C$4.52 earnings per share (EPS) for the quarter. The firm had revenue of C$15.98 billion during the quarter. Imperial Oil had a net margin of 7.81% and a return on equity of 18.76%. Research analysts predict that Imperial Oil will post 8.62 earnings per share for the current fiscal year.

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.

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