Imperial Oil (TSE:IMO) Given a C$160.00 Price Target at Desjardins

Key Points

• Desjardins initiated coverage on Imperial Oil with a C$160 price target and a hold rating, implying about 6.4% downside from the current share price.
• Analyst sentiment remains cautious overall: among recent ratings, six analysts rate the stock Hold and five rate it Sell, with a consensus recommendation of Reduce and a consensus target of C$143.
• Imperial Oil shares recently traded at C$170.97, near their 50-day average, while the company reported C$1.94 EPS and C$12.42 billion in quarterly revenue in its latest earnings release.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO received a C$160.00 price objective from equities researchers at Desjardins in a report issued on Friday,BayStreet.CA reports. The brokerage presently has a "hold" rating on the stock. Desjardins' target price suggests a potential downside of 6.42% from the company's current price.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. boosted their price objective on Imperial Oil from C$149.00 to C$158.00 in a report on Tuesday. TD reduced their price target on Imperial Oil from C$157.00 to C$156.00 and set a "sell" rating for the company in a research report on Wednesday, May 13th. Raymond James Financial boosted their price target on Imperial Oil from C$107.00 to C$126.00 in a report on Monday, March 30th. Royal Bank Of Canada raised their price objective on shares of Imperial Oil from C$116.00 to C$124.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 8th. Finally, Scotiabank raised shares of Imperial Oil to a "hold" rating in a report on Friday, June 26th. Six investment analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Reduce" and a consensus target price of C$143.00.

Imperial Oil Stock Performance

TSE:IMO traded up C$2.62 during midday trading on Friday, hitting C$170.97. The company's stock had a trading volume of 229,090 shares, compared to its average volume of 791,998. Imperial Oil has a fifty-two week low of C$111.68 and a fifty-two week high of C$191.76. The company has a debt-to-equity ratio of 18.53, a current ratio of 1.23 and a quick ratio of 0.98. The firm has a market cap of C$82.68 billion, a P/E ratio of 28.98, a P/E/G ratio of 0.21 and a beta of 0.39. The firm's 50 day moving average is C$170.39 and its 200-day moving average is C$162.45.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO last released its quarterly earnings data on Friday, May 1st. The company reported C$1.94 EPS for the quarter. The business had revenue of C$12.42 billion for the quarter. Imperial Oil had a net margin of 6.13% and a return on equity of 13.38%. Equities analysts anticipate that Imperial Oil will post 8.6164609 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Ian Robert Laing sold 4,100 shares of the business's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of C$176.63, for a total value of C$724,183.00. Insiders sold 6,569 shares of company stock valued at $1,144,955 over the last quarter. 71.26% of the stock is currently owned by company insiders.

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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