ATB Cormark Capital Markets Forecasts Strong Price Appreciation for Imperial Oil (TSE:IMO) Stock

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its target price hoisted by research analysts at ATB Cormark Capital Markets from C$140.00 to C$175.00 in a research note issued on Thursday, BayStreet reports. The brokerage presently has a “sector perform” rating on the stock. ATB Cormark Capital Markets‘s price target suggests a potential downside of 5.29% from the company’s previous close.

A number of other research firms also recently issued reports on IMO. JPMorgan Chase & Co. lifted their price target on Imperial Oil from C$149.00 to C$158.00 in a research note on Tuesday, July 14th. Desjardins raised their target price on Imperial Oil from C$165.00 to C$172.00 and gave the company a “hold” rating in a report on Tuesday. Scotiabank raised Imperial Oil to a “hold” rating in a research report on Friday, June 26th. Scotia decreased their price target on Imperial Oil from C$159.00 to C$156.00 and set a “sector perform” rating for the company in a report on Wednesday, August 5th. Finally, Raymond James Financial upped their price target on Imperial Oil from C$130.00 to C$140.00 and gave the stock an “underperform” rating in a report on Wednesday, September 16th. Six equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Imperial Oil presently has a consensus rating of “Reduce” and a consensus price target of C$152.83.

Imperial Oil Stock Down 3.0%

IMO stock traded down C$5.75 during trading on Thursday, reaching C$184.78. 597,535 shares of the stock were exchanged, compared to its average volume of 827,075. The firm’s 50 day moving average is C$181.65 and its 200 day moving average is C$176.22. Imperial Oil has a twelve month low of C$114.75 and a twelve month high of C$192.40. The company has a current ratio of 1.38, a quick ratio of 0.98 and a debt-to-equity ratio of 17.11. The firm has a market cap of C$89.36 billion, a P/E ratio of 21.59, a price-to-earnings-growth ratio of 0.21 and a beta of 0.62.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last announced its quarterly earnings data on Friday, July 31st. The company reported C$4.52 EPS for the quarter. Imperial Oil had a return on equity of 18.76% and a net margin of 7.81%. The firm had revenue of C$15.98 billion during the quarter. As a group, research analysts forecast that Imperial Oil will post 8.62 EPS for the current year.

Imperial Oil Company Profile

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.