Imperial Oil (TSE:IMO) Price Target Raised to C$115.00

Key Points

• Royal Bank of Canada has raised the price target for Imperial Oil from C$108.00 to C$115.00, while maintaining a "sector perform" rating.
• Despite the price increase, Royal Bank's target indicates a potential downside of 11.49% from the stock's previous close of C$129.93.
• The stock has recently received mixed ratings from analysts, with several downgrades and a current average price target of C$106.78.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO had its target price lifted by Royal Bank Of Canada from C$108.00 to C$115.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price objective indicates a potential downside of 11.49% from the stock's previous close.

Several other analysts have also recently commented on the stock. Wolfe Research cut shares of Imperial Oil from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 23rd. Raymond James Financial cut shares of Imperial Oil from a "moderate buy" rating to a "hold" rating and boosted their price target for the stock from C$105.00 to C$107.00 in a research report on Thursday, July 3rd. Tudor Pickering cut shares of Imperial Oil from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. TD Securities increased their price target on shares of Imperial Oil from C$95.00 to C$102.00 and gave the stock a "hold" rating in a research report on Thursday, August 7th. Finally, Desjardins downgraded shares of Imperial Oil from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 3rd. Eight equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of C$106.78.

Imperial Oil Stock Performance

IMO stock traded down C$0.62 during trading on Thursday, reaching C$129.93. 277,089 shares of the stock were exchanged, compared to its average volume of 794,982. The company has a market capitalization of C$66.14 billion, a P/E ratio of 14.33, a price-to-earnings-growth ratio of 0.21 and a beta of 1.21. 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 twelve month low of C$82.98 and a twelve month high of C$132.08. The stock has a 50 day simple moving average of C$120.09 and a 200-day simple moving average of C$107.22.

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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