TD Cuts Imperial Oil (TSE:IMO) Price Target to C$150.00

Key Points

• TD lowered its price target on Imperial Oil to C$150 from C$156, while keeping a buy rating on the stock. The new target still implies a downside of about 15.6% from the current share price.
• Analyst sentiment remains cautious overall, with MarketBeat showing a consensus rating of “Reduce” and an average price target of C$142.45. Across recent reports, the stock has one Buy, six Hold, and four Sell ratings.
• Imperial Oil was trading at C$177.66 on Wednesday, above both its 50-day and 200-day moving averages. The company recently reported C$1.94 EPS for the quarter on revenue of C$12.42 billion.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO had its price objective reduced by equities researchers at TD from C$156.00 to C$150.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. TD's price target points to a potential downside of 15.57% from the stock's current price.

IMO has been the topic of several other research reports. Royal Bank Of Canada raised 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 report on Wednesday, April 8th. 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 research note on Wednesday, July 8th. Raymond James Financial increased their price target on Imperial Oil from C$107.00 to C$126.00 in a report on Monday, March 30th. Scotiabank upgraded Imperial Oil to a "hold" rating in a research note on Friday, June 26th. Finally, Desjardins set a C$160.00 price objective on Imperial Oil and gave the stock a "hold" rating in a report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, Imperial Oil presently has an average rating of "Reduce" and a consensus target price of C$142.45.

Imperial Oil Stock Performance

TSE IMO traded up C$2.07 during trading hours on Wednesday, hitting C$177.66. The company's stock had a trading volume of 229,120 shares, compared to its average volume of 785,296. Imperial Oil has a 12 month low of C$113.00 and a 12 month high of C$191.76. The company's 50 day simple moving average is C$170.11 and its two-hundred day simple moving average is C$163.61. 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 company has a market cap of C$85.92 billion, a P/E ratio of 30.11, a price-to-earnings-growth ratio of 0.21 and a beta of 0.39.

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 net margin of 6.13% and a return on equity of 13.38%. The business had revenue of C$12.42 billion for the quarter. As a group, sell-side analysts expect that Imperial Oil will post 8.6164609 EPS for the current fiscal year.

Insider Activity at Imperial Oil

In other news, insider Ian Robert Laing sold 4,100 shares of Imperial Oil stock in a transaction dated 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 a total of 6,569 shares of company stock valued at $1,144,955 over the last 90 days. 71.26% of the stock is owned by company 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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