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

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its price objective upped by research analysts at National Bankshares from C$125.00 to C$127.00 in a research report issued on Friday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. National Bankshares’ target price would suggest a potential upside of 0.73% from the company’s current price.

Several other research firms have also weighed in on IMO. JPMorgan Chase & Co. upped their price objective on Imperial Oil from C$101.00 to C$110.00 in a research note on Thursday, October 23rd. Cibc World Mkts cut Imperial Oil from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. CIBC cut Imperial Oil from a “neutral” rating to an “underperform” rating and lifted their price objective for the company from C$108.00 to C$110.00 in a report on Wednesday, October 15th. TD Securities reduced their target price on shares of Imperial Oil from C$107.00 to C$106.00 in a research note on Tuesday, December 16th. Finally, Royal Bank Of Canada upped their target price on shares of Imperial Oil from C$115.00 to C$117.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 7th. Six equities research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat, Imperial Oil has a consensus rating of “Reduce” and an average target price of C$114.00.

Imperial Oil Price Performance

Shares of IMO stock traded up C$2.77 during mid-day trading on Friday, reaching C$126.08. The company’s stock had a trading volume of 556,228 shares, compared to its average volume of 982,840. The firm’s 50-day moving average is C$127.58 and its two-hundred day moving average is C$122.34. The company has a market cap of C$62.64 billion, a P/E ratio of 16.10, a PEG ratio of 0.21 and a beta of 0.89. Imperial Oil has a 1-year low of C$82.98 and a 1-year high of C$141.17. The company has a debt-to-equity ratio of 18.04, a quick ratio of 0.98 and a current ratio of 1.44.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last posted 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 for the quarter. On average, research analysts predict 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. Imperial remains the largest refiner of petroleum products in Canada, operating three refineries with a combined processing capacity of 421 mboe/d.