Imperial Oil (TSE:IMO) Price Target Raised to C$124.00

Key Points

• Royal Bank of Canada raised its price target on Imperial Oil from C$116 to C$124 but kept an "underperform" rating, implying roughly a 30.6% downside from the prior close.
• Analyst views are mixed—several firms raised targets (e.g., UBS to C$185, National Bank to C$212) while others downgraded—but the MarketBeat consensus is a "Strong Sell" with an average price target of C$135.82, versus the stock trading near C$178.66.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO had its price target lifted by investment analysts at Royal Bank Of Canada from C$116.00 to C$124.00 in a report released on Wednesday,BayStreet.CA reports. The brokerage currently has an "underperform" rating on the stock. Royal Bank Of Canada's price target points to a potential downside of 30.59% from the stock's previous close.

A number of other equities research analysts have also recently issued reports on IMO. JPMorgan Chase & Co. increased their target price on shares of Imperial Oil from C$108.00 to C$155.00 in a research report on Wednesday. BMO Capital Markets cut shares of Imperial Oil from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from C$132.00 to C$129.00 in a research report on Monday, December 15th. UBS Group raised their price objective on shares of Imperial Oil from C$155.00 to C$185.00 in a research report on Monday, March 16th. National Bank Financial upped their target price on shares of Imperial Oil from C$139.00 to C$212.00 and gave the stock a "sector perform" rating in a research report on Tuesday, March 31st. Finally, TD Securities increased their price target on shares of Imperial Oil from C$101.00 to C$110.00 and gave the company a "sell" rating in a research note on Monday, February 23rd. Four investment analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, Imperial Oil currently has an average rating of "Strong Sell" and a consensus price target of C$135.82.

Imperial Oil Price Performance

Shares of Imperial Oil stock traded down C$5.72 during mid-day trading on Wednesday, reaching C$178.66. 705,947 shares of the stock were exchanged, compared to its average volume of 929,377. The company has a market cap of C$86.40 billion, a price-to-earnings ratio of 27.57, a price-to-earnings-growth ratio of 0.21 and a beta of 0.52. The company has a current ratio of 1.27, a quick ratio of 0.98 and a debt-to-equity ratio of 19.69. The firm has a 50-day simple moving average of C$164.44 and a 200 day simple moving average of C$140.81. Imperial Oil has a fifty-two week low of C$82.98 and a fifty-two week high of C$185.73.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO last announced its earnings results on Friday, January 30th. The company reported C$1.97 earnings per share (EPS) for the quarter. The business had revenue of C$11.28 billion during the quarter. Imperial Oil had a net margin of 7.02% and a return on equity of 14.75%. On average, sell-side analysts predict that Imperial Oil will post 8.6164609 EPS for the current fiscal year.

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. 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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