Imperial Oil (TSE:IMO) Price Target Cut to C$106.00 by Analysts at TD Securities

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its price objective cut by equities researchers at TD Securities from C$107.00 to C$106.00 in a report released on Tuesday,BayStreet.CA reports. TD Securities’ price objective indicates a potential downside of 10.44% from the stock’s previous close.

Several other research analysts have also recently issued reports on IMO. BMO Capital Markets cut Imperial Oil from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from C$132.00 to C$129.00 in a research report on Monday. Cibc World Mkts downgraded shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. CIBC lowered shares of Imperial Oil from a “neutral” rating to an “underperform” rating and boosted their target price for the company from C$108.00 to C$110.00 in a research report on Wednesday, October 15th. Desjardins upped their target price on shares of Imperial Oil from C$114.00 to C$120.00 and gave the company a “sell” rating in a report on Monday, November 24th. Finally, Raymond James Financial cut shares of Imperial Oil from a “hold” rating to a “strong sell” rating and lifted their price target for the stock from C$110.00 to C$111.00 in a research note on Monday, December 8th. Six investment analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of C$112.30.

Imperial Oil Stock Down 4.4%

Imperial Oil stock traded down C$5.47 on Tuesday, hitting C$118.35. 837,041 shares of the stock traded hands, compared to its average volume of 834,049. The company has a current ratio of 1.44, a quick ratio of 0.98 and a debt-to-equity ratio of 18.04. Imperial Oil has a 1 year low of C$82.98 and a 1 year high of C$141.17. The firm has a market cap of C$58.80 billion, a P/E ratio of 15.11, a price-to-earnings-growth ratio of 0.21 and a beta of 1.04. The business’s fifty day simple moving average is C$129.51 and its 200 day simple moving average is C$120.87.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last announced its earnings results on Friday, October 31st. The company reported C$2.17 earnings per share for the quarter. Imperial Oil had a net margin of 10.00% and a return on equity of 21.23%. The business had revenue of C$11.99 billion during the quarter. As a group, sell-side analysts forecast that Imperial Oil will post 8.6164609 earnings per share for the current 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.