Desjardins Forecasts Strong Price Appreciation for Imperial Oil (TSE:IMO) Stock

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its price target raised by research analysts at Desjardins from C$165.00 to C$172.00 in a research report issued to clients and investors on Tuesday, BayStreet reports. The brokerage currently has a “hold” rating on the stock. Desjardins’ price target suggests a potential downside of 9.08% from the stock’s current price.

IMO has been the topic of a number of other research reports. Raymond James Financial lifted their target price on Imperial Oil from C$130.00 to C$140.00 and gave the company an “underperform” rating in a research report on Wednesday, September 16th. Scotiabank upgraded Imperial Oil to a “hold” rating in a report on Friday, June 26th. National Bank Financial increased their price target on Imperial Oil from C$207.00 to C$213.00 and gave the stock a “sector perform” rating in a report on Tuesday. Scotia cut their price objective 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, August 5th. Finally, TD boosted their price objective on shares of Imperial Oil from C$150.00 to C$151.00 and gave the company a “sell” rating in a report on Wednesday, August 5th. Five research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of C$150.82.

Imperial Oil Trading Down 0.9%

IMO traded down C$1.65 during trading hours on Tuesday, reaching C$189.18. The company’s stock had a trading volume of 646,621 shares, compared to its average volume of 827,362. Imperial Oil has a fifty-two week low of C$114.75 and a fifty-two week high of C$192.40. The stock has a market cap of C$91.49 billion, a PE ratio of 22.10, a P/E/G ratio of 0.21 and a beta of 0.62. The business’s 50-day moving average is C$181.29 and its 200-day moving average is C$176.08. The company has a debt-to-equity ratio of 17.11, a current ratio of 1.38 and a quick ratio of 0.98.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last issued its quarterly earnings data on Friday, July 31st. The company reported C$4.52 earnings per share for the quarter. The company had revenue of C$15.98 billion during the quarter. Imperial Oil had a return on equity of 18.76% and a net margin of 7.81%. As a group, equities research analysts predict that Imperial Oil will post 8.62 earnings per share for the current fiscal year.

About Imperial Oil

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.