Imperial Oil (TSE:IMO) Stock Price Expected to Rise, Desjardins Analyst Says

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its price objective increased by equities researchers at Desjardins from C$114.00 to C$120.00 in a research note issued on Monday,BayStreet.CA reports. The firm currently has a “sell” rating on the stock. Desjardins’ price objective would suggest a potential downside of 12.29% from the company’s current price.

IMO has been the subject of several other research reports. JPMorgan Chase & Co. increased their price objective on shares of Imperial Oil from C$101.00 to C$110.00 in a report on Thursday, October 23rd. TD Securities lifted their price target on shares of Imperial Oil from C$104.00 to C$107.00 and gave the stock a “sell” rating in a research note on Tuesday, November 4th. CIBC lowered Imperial Oil from a “neutral” rating to an “underperform” rating and increased their target price for the stock from C$108.00 to C$110.00 in a research note on Wednesday, October 15th. Morgan Stanley raised their price objective on Imperial Oil from C$97.00 to C$101.00 in a report on Thursday. Finally, Raymond James Financial upped their price target on shares of Imperial Oil from C$109.00 to C$110.00 in a research report on Monday, November 3rd. Six research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of C$110.56.

Imperial Oil Stock Performance

Shares of IMO stock traded down C$0.45 during mid-day trading on Monday, reaching C$136.81. 327,596 shares of the company’s stock traded hands, compared to its average volume of 825,327. Imperial Oil has a 12 month low of C$82.98 and a 12 month high of C$141.17. The firm has a market capitalization of C$67.98 billion, a PE ratio of 17.47, a price-to-earnings-growth ratio of 0.21 and a beta of 0.98. The firm has a 50 day moving average price of C$128.27 and a two-hundred day moving average price of C$117.26. The company has a debt-to-equity ratio of 18.04, a quick ratio of 0.98 and a current ratio of 1.44.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last issued its earnings results on Friday, October 31st. The company reported C$2.17 earnings per share for the quarter. Imperial Oil had a net margin of 10.00% and a return on equity of 21.23%. On average, research analysts forecast that Imperial Oil will post 8.6164609 EPS for the current year.

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.