Royal Bank of Canada Increases Imperial Oil (TSE:IMO) Price Target to C$66.00

Imperial Oil (TSE:IMOGet Rating) (NYSEMKT:IMO) had its price target lifted by analysts at Royal Bank of Canada from C$65.00 to C$66.00 in a research note issued on Thursday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 2.66% from the stock’s current price.

IMO has been the topic of a number of other research reports. Credit Suisse Group boosted their price objective on Imperial Oil to C$72.00 and gave the stock a “neutral” rating in a research note on Monday, May 9th. Scotiabank boosted their price target on Imperial Oil from C$59.00 to C$68.00 in a research report on Tuesday, March 8th. JPMorgan Chase & Co. increased their price objective on shares of Imperial Oil from C$77.00 to C$79.00 in a research report on Monday, May 2nd. TD Securities increased their price objective on shares of Imperial Oil from C$65.00 to C$71.00 and gave the company a “hold” rating in a research report on Thursday, May 5th. Finally, The Goldman Sachs Group increased their price objective on shares of Imperial Oil from C$71.00 to C$72.00 and gave the company a “buy” rating in a research report on Monday, May 2nd. Twelve analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of C$63.79.

Shares of Imperial Oil stock opened at C$64.29 on Thursday. Imperial Oil has a twelve month low of C$30.64 and a twelve month high of C$69.55. The stock has a market capitalization of C$43.02 billion and a P/E ratio of 13.70. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 24.96. The business’s fifty day moving average price is C$61.06 and its 200 day moving average price is C$52.87.

Imperial Oil Company Profile (Get Rating)

Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores for, and produces crude oil, natural gas, synthetic oil, and bitumen. As of December 31, 2021, this segment had 386 million oil-equivalent barrels of proved undeveloped reserves.

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Analyst Recommendations for Imperial Oil (TSE:IMO)

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