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

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its price objective lifted by research analysts at Desjardins from C$120.00 to C$132.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage presently has a “sell” rating on the stock. Desjardins’ target price points to a potential downside of 19.98% from the stock’s previous close.

Several other research firms have also weighed in on IMO. BMO Capital Markets lowered shares of Imperial Oil from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from C$132.00 to C$129.00 in a research note on Monday, December 15th. TD Securities lowered their price target on Imperial Oil from C$107.00 to C$106.00 in a research report on Tuesday, December 16th. Royal Bank Of Canada dropped their price objective on Imperial Oil from C$118.00 to C$116.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 13th. National Bank Financial lifted their target price on Imperial Oil from C$127.00 to C$139.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 3rd. Finally, Raymond James Financial boosted their target price on Imperial Oil from C$106.00 to C$107.00 and gave the stock an “underperform” rating in a report on Monday, February 2nd. Six investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of C$115.80.

Imperial Oil Stock Down 1.8%

TSE:IMO opened at C$164.96 on Friday. Imperial Oil has a twelve month low of C$82.98 and a twelve month high of C$169.07. The firm has a market capitalization of C$79.77 billion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 0.21 and a beta of 0.95. 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 stock’s 50 day moving average price is C$135.81 and its two-hundred day moving average price is C$129.76.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last released its quarterly earnings data on Friday, January 30th. The company reported C$1.97 EPS for the quarter. The company had revenue of C$11.28 billion during the quarter. Imperial Oil had a return on equity of 21.23% and a net margin of 10.00%. Equities research analysts expect that Imperial Oil will post 8.6164609 earnings per share for the current fiscal year.

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.