JPMorgan Chase & Co. Increases Imperial Oil (TSE:IMO) Price Target to C$158.00

Key Points

• JPMorgan Chase & Co. raised its price target on Imperial Oil to C$158 from C$149, though that still implies an 8.41% downside from the prior close.
• Analyst sentiment remains weak overall: among several firms updating views, Imperial Oil has five Hold ratings and six Sell ratings, with MarketBeat citing an average rating of Strong Sell and an average target of C$140.45.
• The stock was down 1.4% in Tuesday trading to C$172.50, while the company reported quarterly EPS of C$1.94 and revenue of C$12.42 billion in its latest earnings release.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO had its price target upped by investment analysts at JPMorgan Chase & Co. from C$149.00 to C$158.00 in a report issued on Tuesday,BayStreet.CA reports. JPMorgan Chase & Co.'s price target suggests a potential downside of 8.41% from the stock's previous close.

Several other analysts have also commented on the stock. TD lowered their price objective on shares of Imperial Oil from C$157.00 to C$156.00 and set a "sell" rating for the company in a report on Wednesday, May 13th. Raymond James Financial raised their target price on Imperial Oil from C$107.00 to C$126.00 in a research note on Monday, March 30th. National Bank Financial boosted their target price on shares of Imperial Oil from C$212.00 to C$214.00 and gave the company a "sector perform" rating in a report on Wednesday, July 8th. Royal Bank Of Canada upped their target price on shares of Imperial Oil from C$116.00 to C$124.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 8th. Finally, UBS Group increased their price target on shares of Imperial Oil from C$155.00 to C$185.00 in a research note on Monday, March 16th. Five research analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Strong Sell" and an average price target of C$140.45.

Imperial Oil Trading Down 1.4%

Imperial Oil stock traded down C$2.45 during mid-day trading on Tuesday, reaching C$172.50. 305,562 shares of the company traded hands, compared to its average volume of 793,570. The company has a debt-to-equity ratio of 18.53, a current ratio of 1.23 and a quick ratio of 0.98. The firm's 50 day moving average price is C$170.74 and its 200 day moving average price is C$161.34. The firm has a market capitalization of C$83.42 billion, a price-to-earnings ratio of 29.24, a P/E/G ratio of 0.21 and a beta of 0.39. Imperial Oil has a 52-week low of C$111.37 and a 52-week high of C$191.76.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO last announced its earnings results on Friday, May 1st. The company reported C$1.94 earnings per share for the quarter. Imperial Oil had a net margin of 6.13% and a return on equity of 13.38%. The firm had revenue of C$12.42 billion for the quarter. On average, analysts anticipate that Imperial Oil will post 8.6164609 earnings per share for the current fiscal year.

Insider Transactions at Imperial Oil

In other news, insider Ian Robert Laing sold 4,100 shares of the company's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of C$176.63, for a total value of C$724,183.00. Insiders have sold 6,569 shares of company stock valued at $1,144,955 over the last three months. 71.26% of the stock is currently owned by insiders.

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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