Royal Bank Of Canada Lowers Imperial Oil (TSE:IMO) Price Target to C$116.00

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its price target reduced by analysts at Royal Bank Of Canada from C$118.00 to C$116.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective would indicate a potential downside of 13.07% from the company’s current price.

A number of other brokerages have also recently commented on IMO. Desjardins lifted their price target on Imperial Oil from C$114.00 to C$120.00 and gave the stock a “sell” rating in a research note on Monday, November 24th. CIBC downgraded Imperial Oil from a “neutral” rating to an “underperform” rating and raised their price target for the stock from C$108.00 to C$110.00 in a research note on Wednesday, October 15th. National Bankshares increased their target price on shares of Imperial Oil from C$125.00 to C$127.00 and gave the stock a “sector perform” rating in a report on Friday. Cibc World Mkts downgraded shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Finally, BMO Capital Markets downgraded Imperial Oil from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from C$132.00 to C$129.00 in a research report on Monday, December 15th. Six investment analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of C$113.90.

Imperial Oil Price Performance

TSE:IMO traded up C$5.31 during trading hours on Tuesday, hitting C$133.44. 665,391 shares of the company’s stock traded hands, compared to its average volume of 1,030,947. Imperial Oil has a 52 week low of C$82.98 and a 52 week high of C$141.17. 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$66.30 billion, a P/E ratio of 17.04, a P/E/G ratio of 0.21 and a beta of 0.89. The business’s fifty day simple moving average is C$127.65 and its two-hundred day simple moving average is C$122.77.

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. The business had revenue of C$11.99 billion for the quarter. Imperial Oil had a net margin of 10.00% and a return on equity of 21.23%. On average, research analysts anticipate that Imperial Oil will post 8.6164609 earnings per share for the current fiscal 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.