Imperial Oil (TSE:IMO) Stock Rating Lowered by CIBC

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) was downgraded by analysts at CIBC from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. They currently have a C$110.00 price target on the stock, up from their prior price target of C$108.00. CIBC’s price target would suggest a potential downside of 7.61% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Raymond James Financial cut Imperial Oil from a “moderate buy” rating to a “hold” rating and upped their price objective for the stock from C$105.00 to C$107.00 in a research note on Thursday, July 3rd. Scotiabank increased their price target on shares of Imperial Oil from C$100.00 to C$110.00 in a research report on Friday, July 11th. Royal Bank Of Canada raised their price target on shares of Imperial Oil from C$115.00 to C$117.00 and gave the company a “sector perform” rating in a report on Tuesday, October 7th. Wolfe Research lowered shares of Imperial Oil from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 23rd. Finally, Tudor Pickering downgraded shares of Imperial Oil from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 25th. Six investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of C$105.88.

Imperial Oil Stock Down 1.4%

Imperial Oil stock opened at C$119.06 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 18.04. The firm has a market cap of C$60.61 billion, a P/E ratio of 13.13, a P/E/G ratio of 0.21 and a beta of 1.14. The business has a fifty day moving average of C$123.22 and a two-hundred day moving average of C$109.91. Imperial Oil has a twelve month low of C$82.98 and a twelve month high of C$132.08.

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.