TD Issues Positive Forecast for Imperial Oil (TSE:IMO) Stock Price

Key Points

• TD raised its price target for Imperial Oil from C$150 to C$151 but maintained a “sell” rating, implying roughly 14.6% downside from the stock’s C$176.77 trading price.
• Analyst sentiment remains cautious: five analysts rate the stock “hold” and five rate it “sell,” producing a consensus “reduce” rating and average target of C$143.25.
• Imperial Oil reported quarterly EPS of C$4.52 on C$15.98 billion in revenue, while the stock has gained above its moving averages despite trading down 1.6% during Wednesday’s session.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO had its price objective lifted by equities researchers at TD from C$150.00 to C$151.00 in a report released on Wednesday,BayStreet.CA reports. The brokerage presently has a "sell" rating on the stock. TD's price objective suggests a potential downside of 14.58% from the company's current price.

Other equities research analysts have also issued reports about the company. Scotia decreased their target price on Imperial Oil from C$159.00 to C$156.00 and set a "sector perform" rating for the company in a research report on Wednesday. Scotiabank upgraded Imperial Oil to a "hold" rating in a report on Friday, June 26th. JPMorgan Chase & Co. upped their price objective on shares of Imperial Oil from C$149.00 to C$158.00 in a research note on Tuesday, July 14th. Desjardins set a C$160.00 target price on shares of Imperial Oil and gave the company a "hold" rating in a research report on Friday, July 17th. Finally, Royal Bank Of Canada raised their target price on shares of Imperial Oil from C$116.00 to C$124.00 and gave the company an "underperform" rating in a research report on Wednesday, April 8th. Five analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of C$143.25.

Imperial Oil Trading Down 1.6%

Imperial Oil stock traded down C$2.79 during trading hours on Wednesday, hitting C$176.77. The company had a trading volume of 355,591 shares, compared to its average volume of 789,899. The company has a debt-to-equity ratio of 18.53, a quick ratio of 0.98 and a current ratio of 1.23. The firm has a market cap of C$85.48 billion, a P/E ratio of 20.65, a P/E/G ratio of 0.21 and a beta of 0.40. The company has a 50-day moving average price of C$169.48 and a two-hundred day moving average price of C$167.48. Imperial Oil has a 1 year low of C$114.02 and a 1 year high of C$191.76.

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

Insider Buying and Selling

In other Imperial Oil news, insider Ian Robert Laing sold 4,100 shares of the business's stock in a transaction dated 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 in the last ninety days. 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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