National Bank Financial Cuts Imperial Oil (TSE:IMO) Price Target to C$209.00

Key Points

• National Bank Financial lowered Imperial Oil’s price target from C$214 to C$209 while maintaining a “sector perform” rating, implying 18.23% potential upside from the reported share price.
• Analyst sentiment remains cautious: five analysts rate the stock “hold” and five rate it “sell,” producing a consensus “reduce” rating and an average target price of C$143.25.
• Imperial Oil shares fell 1.6% to C$176.77, while the company reported quarterly EPS of C$4.52 and revenue of C$15.98 billion.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO had its price target dropped by stock analysts at National Bank Financial from C$214.00 to C$209.00 in a research note issued on Wednesday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. National Bank Financial's price objective indicates a potential upside of 18.23% from the stock's current price.

A number of other equities analysts have also commented on the company. Royal Bank Of Canada lifted their price objective on Imperial Oil from C$116.00 to C$124.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 8th. TD increased their target price on shares of Imperial Oil from C$150.00 to C$151.00 and gave the company a "sell" rating in a research report on Wednesday. Scotiabank upgraded shares of Imperial Oil to a "hold" rating in a report on Friday, June 26th. JPMorgan Chase & Co. boosted their price target on shares of Imperial Oil from C$149.00 to C$158.00 in a research report on Tuesday, July 14th. Finally, Desjardins set a C$160.00 price objective on shares of Imperial Oil and gave the company a "hold" rating in a research note on Friday, July 17th. Five 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, the stock presently has a consensus rating of "Reduce" and an average target price of C$143.25.

Imperial Oil Trading Down 1.6%

Shares of Imperial Oil stock traded down C$2.79 during trading on Wednesday, hitting C$176.77. The company's stock had a trading volume of 355,591 shares, compared to its average volume of 789,899. The stock has a market cap of C$85.48 billion, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 0.21 and a beta of 0.40. Imperial Oil has a 52 week low of C$114.02 and a 52 week high of C$191.76. The stock has a 50-day moving average price of C$169.48 and a two-hundred day moving average price of C$167.48. The company has a debt-to-equity ratio of 18.53, a current ratio of 1.23 and a quick ratio of 0.98.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO last announced its earnings results on Friday, July 31st. The company reported C$4.52 EPS for the quarter. Imperial Oil had a return on equity of 18.67% and a net margin of 7.81%.The firm had revenue of C$15.98 billion for the quarter. Equities research analysts anticipate that Imperial Oil will post 8.6164609 EPS for the current fiscal year.

Insider Transactions at Imperial Oil

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

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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