Imperial Oil (TSE:IMO) Price Target Lowered to C$108.00 at Royal Bank Of Canada

Key Points

• Royal Bank Of Canada has lowered its target price for Imperial Oil from C$110.00 to C$108.00, indicating a potential downside of 7.72% from the previous close.
• Multiple analysts have downgraded their ratings on Imperial Oil, with Tudor Pickering and Wolfe Research both switching from "strong-buy" to "hold" ratings.
• Despite the downgrades, Scotiabank recently raised its price target for Imperial Oil, showing mixed sentiment among analysts, with an average target of C$106.00.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO had its price target reduced by analysts at Royal Bank Of Canada from C$110.00 to C$108.00 in a research note issued on Thursday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target would indicate a potential downside of 6.06% from the company's current price.

A number of other analysts have also recently weighed in on the stock. Wolfe Research cut shares of Imperial Oil from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 23rd. TD Securities lowered their target price on shares of Imperial Oil from C$94.00 to C$92.00 and set a "hold" rating on the stock in a research report on Monday, April 21st. Scotiabank raised their target price on shares of Imperial Oil from C$100.00 to C$110.00 in a research report on Friday, July 11th. Desjardins lowered shares of Imperial Oil from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 3rd. Finally, Tudor Pickering lowered shares of Imperial Oil from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Two equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of C$106.00.

Imperial Oil Stock Down 2.3%

TSE:IMO traded down C$2.68 during mid-day trading on Thursday, hitting C$114.97. The stock had a trading volume of 973,671 shares, compared to its average volume of 790,893. The stock has a 50-day simple moving average of C$110.90 and a two-hundred day simple moving average of C$101.88. The company has a market capitalization of C$60.02 billion, a PE ratio of 12.35, a PEG ratio of 0.21 and a beta of 1.78. Imperial Oil has a twelve month low of C$82.98 and a twelve month high of C$119.54. The company has a current ratio of 1.44, a quick ratio of 0.98 and a debt-to-equity ratio of 18.04.

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.