Imperial Oil (TSE:IMO) Price Target Cut to C$79.00 by Analysts at The Goldman Sachs Group

Imperial Oil (TSE:IMO – Get Rating) (NYSEMKT:IMO) had its price objective lowered by equities researchers at The Goldman Sachs Group to C$79.00 in a research note issued to investors on Wednesday, Stock Target Advisor reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 35.67% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. CIBC raised their target price on Imperial Oil from C$70.00 to C$74.00 in a research note on Thursday, June 9th. BMO Capital Markets raised their target price on Imperial Oil from C$65.00 to C$70.00 in a research note on Monday, May 2nd. Royal Bank of Canada raised their target price 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. Raymond James set a C$65.00 target price on Imperial Oil and gave the company a “market perform” rating in a research note on Monday, May 2nd. Finally, CSFB raised their target price on Imperial Oil from C$65.00 to C$72.00 in a research note on Monday, May 9th. Eleven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Imperial Oil presently has an average rating of “Hold” and an average price target of C$66.17.

Shares of IMO opened at C$58.23 on Wednesday. The business’s fifty day moving average price is C$66.09 and its 200 day moving average price is C$57.66. Imperial Oil has a 12-month low of C$30.64 and a 12-month high of C$72.96. The stock has a market capitalization of C$37.07 billion and a PE ratio of 12.43. The company has a debt-to-equity ratio of 24.26, a current ratio of 1.24 and a quick ratio of 0.99.

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

Imperial Oil Company Profile (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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