JPMorgan Chase & Co. Has Lowered Expectations for Imperial Oil (TSE:IMO) Stock Price

Key Points

• JPMorgan Chase cut its target on Imperial Oil from C$155 to C$149, implying a potential downside of about 16.3% from the stock's previous close.
• MarketBeat shows a consensus rating of Strong Sell with an average price target of C$137.08, and most analysts assigning Sell or Underperform ratings.
• Despite the negative analyst outlook, IMO traded at C$177.98 (near its 1‑year high) and has a market cap of C$86.07 billion and a P/E of 27.47, indicating a notable divergence between market price and analyst targets.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO had its target price cut by JPMorgan Chase & Co. from C$155.00 to C$149.00 in a research note issued on Monday,BayStreet.CA reports. JPMorgan Chase & Co.'s price objective indicates a potential downside of 16.28% from the stock's previous close.

A number of other research firms have also issued reports on IMO. Raymond James Financial upped their target price on Imperial Oil from C$107.00 to C$126.00 in a research note on Monday, March 30th. Desjardins boosted their price target on Imperial Oil from C$120.00 to C$132.00 and gave the company a "sell" rating in a report on Friday, February 20th. TD Securities boosted their price target on Imperial Oil from C$101.00 to C$110.00 and gave the company a "sell" rating in a report on Monday, February 23rd. UBS Group boosted their price target on Imperial Oil from C$155.00 to C$185.00 in a report on Monday, March 16th. Finally, Royal Bank Of Canada boosted their price target on Imperial Oil from C$116.00 to C$124.00 and gave the company an "underperform" rating in a report on Wednesday, April 8th. Four analysts have rated the stock with a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Strong Sell" and an average price target of C$137.08.

Imperial Oil Price Performance

IMO stock traded up C$3.38 on Monday, reaching C$177.98. The company had a trading volume of 343,206 shares, compared to its average volume of 869,735. Imperial Oil has a 1 year low of C$92.10 and a 1 year high of C$185.73. The company has a debt-to-equity ratio of 19.69, a quick ratio of 0.98 and a current ratio of 1.27. The company's fifty day moving average is C$171.45 and its 200 day moving average is C$146.53. The company has a market cap of C$86.07 billion, a P/E ratio of 27.47, a PEG ratio of 0.21 and a beta of 0.65.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO last posted its earnings results on Friday, May 1st. The company reported C$1.94 earnings per share (EPS) for the quarter. Imperial Oil had a return on equity of 13.18% and a net margin of 6.27%.The firm had revenue of C$12.42 billion for the quarter. On average, research analysts forecast that Imperial Oil will post 8.6164609 earnings per share for the current year.

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. 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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