Imperial Oil (TSE:IMO) Given New C$110.00 Price Target at Scotiabank

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO had its price target hoisted by Scotiabank from C$100.00 to C$110.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Scotiabank's price objective suggests a potential downside of 2.56% from the company's current price.

Other research analysts have also issued reports about the stock. Raymond James Financial lowered shares of Imperial Oil from a "moderate buy" rating to a "hold" rating and boosted their price target for the company from C$105.00 to C$107.00 in a research report on Thursday, July 3rd. Wolfe Research upgraded shares of Imperial Oil from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 21st. Desjardins lowered shares of Imperial Oil from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 3rd. The Goldman Sachs Group lowered shares of Imperial Oil from a "neutral" rating to a "sell" rating in a research report on Thursday, March 27th. Finally, TD Securities reduced their price target on shares of Imperial Oil from C$94.00 to C$92.00 and set a "hold" rating for the company in a research report on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of C$104.11.

Imperial Oil Stock Performance

IMO stock traded up C$2.33 during midday trading on Friday, reaching C$112.89. 940,998 shares of the company's stock traded hands, compared to its average volume of 793,892. The company has a 50-day moving average price of C$104.19 and a two-hundred day moving average price of C$98.86. The company has a debt-to-equity ratio of 18.04, a quick ratio of 0.98 and a current ratio of 1.44. Imperial Oil has a 52 week low of C$82.98 and a 52 week high of C$114.04. The firm has a market capitalization of C$58.93 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 0.21 and a beta of 1.78.

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.