Scotia Has Lowered Expectations for Imperial Oil (TSE:IMO) Stock Price

Key Points

• Scotia lowered Imperial Oil’s price target from C$159 to C$156 while maintaining a “sector perform” rating, implying 11.75% downside from the prior close.
• Analyst sentiment remains cautious: Imperial Oil has an average “Reduce” rating and a consensus price target of C$143.25, based on five Hold and five Sell ratings.
• The stock fell 1.6% to C$176.77 in mid-day trading. Imperial Oil reported quarterly EPS of C$4.52 on C$15.98 billion in revenue, while insiders sold shares worth about C$1.14 million over the last quarter.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO had its price target cut by Scotia from C$159.00 to C$156.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the stock. Scotia's target price points to a potential downside of 11.75% from the stock's previous close.

Several other research analysts have also weighed in on IMO. Desjardins set a C$160.00 price objective on shares of Imperial Oil and gave the stock a "hold" rating in a report on Friday, July 17th. National Bank Financial upped 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 research note on Wednesday, July 8th. TD reduced their price target on shares of Imperial Oil from C$156.00 to C$150.00 and set a "buy" rating on the stock in a research report on Wednesday, July 22nd. Royal Bank Of Canada lifted their price target 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. Finally, Scotiabank raised Imperial Oil to a "hold" rating in a report on Friday, June 26th. Five equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, Imperial Oil currently has an average rating of "Reduce" and an average price target of C$143.25.

Imperial Oil Stock Down 1.6%

TSE IMO traded down C$2.79 during mid-day trading on Wednesday, reaching C$176.77. 355,591 shares of the company's stock traded hands, compared to its average volume of 789,899. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 18.53. Imperial Oil has a 1-year low of C$114.02 and a 1-year high of C$191.76. The company has a fifty day simple moving average of C$169.48 and a 200-day simple moving average of C$167.48. The company has a market cap of C$85.48 billion, a price-to-earnings ratio of 20.65, a P/E/G ratio of 0.21 and a beta of 0.40.

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

Insider Transactions at Imperial Oil

In other Imperial Oil news, insider Ian Robert Laing sold 4,100 shares of Imperial Oil 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 value of C$724,183.00. Insiders have sold a total of 6,569 shares of company stock valued at $1,144,955 over the last quarter. Company insiders own 71.26% of the company's stock.

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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