Imperial Oil (TSE:IMO) Stock Price Expected to Rise, Raymond James Financial Analyst Says

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its target price boosted by research analysts at Raymond James Financial from C$109.00 to C$110.00 in a research report issued on Monday,BayStreet.CA reports. Raymond James Financial’s price objective indicates a potential downside of 11.66% from the stock’s current price.

Several other brokerages have also recently commented on IMO. Royal Bank Of Canada raised 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. TD Securities cut shares of Imperial Oil from a “hold” rating to a “sell” rating and raised their target price for the stock from C$102.00 to C$104.00 in a report on Tuesday, September 30th. CIBC cut shares of Imperial Oil from a “neutral” rating to an “underperform” rating and raised their target price for the stock from C$108.00 to C$110.00 in a report on Wednesday, October 15th. Tudor Pickering cut shares of Imperial Oil from a “strong-buy” rating to a “hold” rating in a report on Friday, July 25th. Finally, Scotiabank raised their target price on shares of Imperial Oil from C$100.00 to C$110.00 in a report on Friday, July 11th. Six equities research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of C$107.88.

Imperial Oil Stock Performance

Shares of IMO opened at C$124.52 on Monday. The firm’s 50 day moving average is C$125.29 and its 200-day moving average is C$113.50. The stock has a market capitalization of C$61.87 billion, a P/E ratio of 15.90, a P/E/G ratio of 0.21 and a beta of 0.98. The company has a debt-to-equity ratio of 18.04, a current ratio of 1.44 and a quick ratio of 0.98. Imperial Oil has a 12-month low of C$82.98 and a 12-month high of C$132.08.

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.