Imperial Oil (TSE:IMO) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Key Points

• Royal Bank Of Canada raised its target price for Imperial Oil from C$115.00 to C$117.00, maintaining a "sector perform" rating, indicating potential downside of 7.44% from the stock's previous close.
• Various brokerages have issued mixed ratings on Imperial Oil, with Wolfe Research and TD Securities both downgrading the stock, while Scotiabank increased its price objective to C$110.00.
• Imperial Oil's stock recently traded down 0.5% to C$126.41, with analysts noting an average price target of C$105.63 across multiple firms.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO had its target price hoisted by equities researchers at Royal Bank Of Canada from C$115.00 to C$117.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the stock. Royal Bank Of Canada's target price points to a potential downside of 7.44% from the stock's previous close.

Several other brokerages have also issued reports on IMO. Wolfe Research lowered Imperial Oil from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 23rd. TD Securities downgraded Imperial Oil from a "hold" rating to a "sell" rating and increased their price objective for the stock from C$102.00 to C$104.00 in a research note on Tuesday, September 30th. Tudor Pickering downgraded Imperial Oil from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Scotiabank increased their price objective on Imperial Oil from C$100.00 to C$110.00 in a research note on Friday, July 11th. Finally, Raymond James Financial downgraded Imperial Oil from a "moderate buy" rating to a "hold" rating and increased their price objective for the stock from C$105.00 to C$107.00 in a research note on Thursday, July 3rd. Seven investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and an average price target of C$105.63.

Imperial Oil Stock Down 0.5%

TSE:IMO traded down C$0.61 on Tuesday, hitting C$126.41. The stock had a trading volume of 313,843 shares, compared to its average volume of 799,784. The business's fifty day moving average is C$122.21 and its 200 day moving average is C$108.93. The company has a market cap of C$64.35 billion, a PE ratio of 13.94, a P/E/G ratio of 0.21 and a beta of 1.14. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 18.04. Imperial Oil has a 52 week low of C$82.98 and a 52 week 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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