Imperial Oil (TSE:IMO) Downgraded by TD Securities to "Sell"

Key Points

• Imperial Oil has been downgraded by TD Securities from a "hold" to a "sell" rating, setting a price target of C$104.00, indicating a potential downside of 16.95% from the previous close.
• In recent analyst assessments, several firms adjusted their ratings on Imperial Oil, with Raymond James lowering it to "hold" but increasing the price target to C$107.00, while Royal Bank of Canada raised its target to C$115.00.
• Imperial Oil's stock price declined by C$3.02 to C$125.22 during trading, with a noted market capitalization of C$63.74 billion and a P/E ratio of 13.81.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO was downgraded by research analysts at TD Securities from a "hold" rating to a "sell" rating in a research note issued to investors on Tuesday,BayStreet.CA reports. They currently have a C$104.00 price target on the stock, up from their prior price target of C$102.00. TD Securities' price target would indicate a potential downside of 16.95% from the stock's previous close.

Several other analysts have also weighed in on the company. Raymond James Financial lowered Imperial Oil from a "moderate buy" rating to a "hold" rating and upped their price objective for the company from C$105.00 to C$107.00 in a report on Thursday, July 3rd. Scotiabank upped their price objective on Imperial Oil from C$100.00 to C$110.00 in a report on Friday, July 11th. Wolfe Research lowered Imperial Oil from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada upped their price objective on Imperial Oil from C$108.00 to C$115.00 and gave the company a "sector perform" rating in a report on Thursday, September 25th. Finally, Desjardins lowered Imperial Oil from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 3rd. Seven research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus price target of C$107.00.

Imperial Oil Stock Performance

IMO stock traded down C$3.02 during trading on Tuesday, reaching C$125.22. 616,254 shares of the company's stock were exchanged, compared to its average volume of 796,531. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 18.04. The firm has a market cap of C$63.74 billion, a PE ratio of 13.81, a P/E/G ratio of 0.21 and a beta of 1.21. The company's fifty day moving average price is C$121.10 and its 200-day moving average price is C$108.04. Imperial Oil has a 1-year low of C$82.98 and a 1-year high of C$132.08.

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.

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