Raymond James Financial Boosts Imperial Oil (TSE:IMO) Price Target to C$140.00

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its target price lifted by equities researchers at Raymond James Financial from C$130.00 to C$140.00 in a research note issued on Wednesday, BayStreet reports. The brokerage currently has an “underperform” rating on the stock. Raymond James Financial’s price target indicates a potential downside of 23.97% from the company’s current price.

Other research analysts also recently issued reports about the company. Desjardins set a C$160.00 target price on Imperial Oil and gave the stock a “hold” rating in a research note on Friday, July 17th. Scotiabank upgraded Imperial Oil to a “hold” rating in a research note on Friday, June 26th. National Bank Financial lowered their price target on Imperial Oil from C$214.00 to C$209.00 and set a “sector perform” rating for the company in a report on Wednesday, August 5th. Scotia dropped their price target on Imperial Oil from C$159.00 to C$156.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 5th. Finally, TD upped 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 investment analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of C$146.08.

Imperial Oil Stock Down 2.2%

TSE:IMO traded down C$4.10 during midday trading on Wednesday, reaching C$184.14. 505,059 shares of the stock traded hands, compared to its average volume of 803,755. The stock has a market capitalization of C$89.05 billion, a PE ratio of 21.51, a price-to-earnings-growth ratio of 0.21 and a beta of 0.41. Imperial Oil has a 12-month low of C$114.75 and a 12-month high of C$191.76. The company has a debt-to-equity ratio of 17.11, a quick ratio of 0.98 and a current ratio of 1.38. The business has a 50-day moving average of C$180.09 and a two-hundred day moving average of C$174.52.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last issued its quarterly earnings results on Friday, July 31st. The company reported C$4.52 earnings per share (EPS) for the quarter. Imperial Oil had a return on equity of 18.76% and a net margin of 7.81%.The business had revenue of C$15.98 billion for the quarter. On average, equities analysts forecast that Imperial Oil will post 8.6164609 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.