Imperial Oil (TSE:IMO) Price Target Cut to C$79.00

Imperial Oil (TSE:IMO – Get Rating) (NYSEMKT:IMO) had its target price decreased by The Goldman Sachs Group to C$79.00 in a research report issued to clients and investors on Wednesday, Stock Target Advisor reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 35.67% from the stock’s previous close.

A number of other analysts also recently weighed in on the company. TD Securities lifted their price target on Imperial Oil from C$65.00 to C$71.00 and gave the company a “hold” rating in a research note on Thursday, May 5th. BMO Capital Markets lifted their price target on Imperial Oil from C$65.00 to C$70.00 in a research note on Monday, May 2nd. Citigroup lifted their price target on Imperial Oil from C$47.00 to C$69.00 and gave the company a “sector perform” rating in a research note on Friday, April 29th. Royal Bank of Canada lifted their price target on Imperial Oil from C$65.00 to C$66.00 and gave the company an “outperform” rating in a research note on Thursday, May 12th. Finally, JPMorgan Chase & Co. lifted their price target on Imperial Oil from C$77.00 to C$79.00 in a research note on Monday, May 2nd. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$66.17.

Shares of IMO stock opened at C$58.23 on Wednesday. The business’s 50 day moving average is C$66.09 and its two-hundred day moving average is C$57.66. Imperial Oil has a twelve month low of C$30.64 and a twelve month high of C$72.96. The company has a market capitalization of C$37.07 billion and a P/E ratio of 12.43. The company has a current ratio of 1.24, a quick ratio of 0.99 and a debt-to-equity ratio of 24.26.

Imperial Oil (TSE:IMO – Get Rating) (NYSEMKT:IMO) last announced its earnings results on Friday, April 29th. The company reported C$1.75 earnings per share for the quarter, beating the consensus estimate of C$1.70 by C$0.05. The company had revenue of C$12.69 billion during the quarter, compared to analysts’ expectations of C$11.46 billion. As a group, equities analysts predict that Imperial Oil will post 8.5286454 earnings per share for the current fiscal year.

About Imperial Oil (Get Rating)

Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores for, and produces crude oil, natural gas, synthetic oil, and bitumen. As of December 31, 2021, this segment had 386 million oil-equivalent barrels of proved undeveloped reserves.

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