JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Imperial Oil (TSE:IMO) Stock

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its price target upped by research analysts at JPMorgan Chase & Co. from C$149.00 to C$158.00 in a note issued to investors on Tuesday,BayStreet.CA reports. JPMorgan Chase & Co.‘s target price points to a potential downside of 8.41% from the stock’s previous close.

A number of other equities research analysts also recently commented on the stock. TD cut their target price on shares of Imperial Oil from C$157.00 to C$156.00 and set a “sell” rating for the company in a research report on Wednesday, May 13th. Scotiabank raised Imperial Oil to a “hold” rating in a report on Friday, June 26th. Royal Bank Of Canada lifted their price objective on Imperial Oil from C$116.00 to C$124.00 and gave the stock an “underperform” rating in a report on Wednesday, April 8th. Raymond James Financial upped their price objective on Imperial Oil from C$107.00 to C$126.00 in a research report on Monday, March 30th. Finally, UBS Group increased their target price on Imperial Oil from C$155.00 to C$185.00 in a report on Monday, March 16th. Five research analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Strong Sell” and a consensus target price of C$140.45.

Imperial Oil Stock Performance

TSE:IMO traded down C$2.45 during mid-day trading on Tuesday, reaching C$172.50. The company’s stock had a trading volume of 305,562 shares, compared to its average volume of 793,570. Imperial Oil has a 12-month low of C$111.37 and a 12-month high of C$191.76. The firm’s fifty day moving average price is C$170.74 and its two-hundred day moving average price is C$161.34. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 18.53. The stock has a market cap of C$83.42 billion, a P/E ratio of 29.24, a PEG ratio of 0.21 and a beta of 0.39.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last announced its quarterly 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 firm had revenue of C$12.42 billion for the quarter. On average, equities analysts forecast that Imperial Oil will post 8.6164609 EPS for the current fiscal year.

Insider Activity

In other news, insider Ian Robert Laing sold 4,100 shares of the company’s stock in a transaction 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. Over the last ninety days, insiders have sold 6,569 shares of company stock worth $1,144,955. 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.