Imperial Oil (TSE:IMO) Lowered to Strong Sell Rating by Cibc World Mkts

Key Points

• Imperial Oil has been downgraded from a "hold" to a "strong sell" rating by CIBC World Markets, indicating a more negative outlook for the stock.
• Other analysts have varied opinions, with Scotiabank raising their price target to C$110.00, while Tudor Pickering has downgraded it to "hold."
• Currently, the stock has an average rating of "Reduce" and a consensus price target of C$105.88, reflecting mixed sentiments among analysts.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO was downgraded by stock analysts at Cibc World Mkts from a "hold" rating to a "strong sell" rating in a report released on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the stock. Scotiabank lifted their price target on shares of Imperial Oil from C$100.00 to C$110.00 in a research note on Friday, July 11th. Tudor Pickering lowered shares of Imperial Oil from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. CIBC downgraded shares of Imperial Oil from a "neutral" rating to an "underperform" rating and upped their price target for the stock from C$108.00 to C$110.00 in a research report on Wednesday. TD Securities lowered shares of Imperial Oil from a "hold" rating to a "sell" rating and raised their price target for the company from C$102.00 to C$104.00 in a research note on Tuesday, September 30th. Finally, Royal Bank Of Canada lifted their price objective on Imperial Oil from C$115.00 to C$117.00 and gave the stock a "sector perform" rating in a report on Tuesday, October 7th. Six research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus price target of C$105.88.

Imperial Oil Stock Performance

Shares of IMO stock opened at C$120.76 on Tuesday. The company has a current ratio of 1.44, a quick ratio of 0.98 and a debt-to-equity ratio of 18.04. Imperial Oil has a 12-month low of C$82.98 and a 12-month high of C$132.08. The business's 50 day moving average is C$123.18 and its two-hundred day moving average is C$109.80. The company has a market capitalization of C$61.47 billion, a P/E ratio of 13.31, a P/E/G ratio of 0.21 and a beta of 1.14.

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.

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