BMO Capital Markets Downgrades Imperial Oil (TSE:IMO) to Market Perform

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) was downgraded by analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a note issued to investors on Monday, Marketbeat.com reports. They presently have a C$129.00 price objective on the stock, down from their previous price objective of C$132.00. BMO Capital Markets’ price objective would suggest a potential upside of 9.96% from the stock’s previous close.

A number of other brokerages also recently issued reports on IMO. Desjardins raised their price objective on Imperial Oil from C$114.00 to C$120.00 and gave the stock a “sell” rating in a research report on Monday, November 24th. TD Securities lifted their price target on shares of Imperial Oil from C$104.00 to C$107.00 and gave the company a “sell” rating in a research report on Tuesday, November 4th. CIBC downgraded shares of Imperial Oil from a “neutral” rating to an “underperform” rating and boosted their price target for the company from C$108.00 to C$110.00 in a research note on Wednesday, October 15th. Morgan Stanley increased their price objective on shares of Imperial Oil from C$97.00 to C$101.00 in a research report on Thursday, November 20th. Finally, Cibc World Mkts downgraded shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Six analysts have rated the stock with a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of C$112.30.

Imperial Oil Stock Down 5.2%

IMO stock opened at C$117.32 on Monday. Imperial Oil has a one year low of C$82.98 and a one year high of C$141.17. The firm has a market cap of C$58.29 billion, a PE ratio of 14.98, a PEG ratio of 0.21 and a beta of 1.04. The firm’s 50 day moving average price is C$129.32 and its 200-day moving average price is C$121.01. The company has a debt-to-equity ratio of 18.04, a quick ratio of 0.98 and a current ratio of 1.44.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last posted its earnings results on Friday, October 31st. The company reported C$2.17 earnings per share (EPS) for the quarter. Imperial Oil had a return on equity of 21.23% and a net margin of 10.00%.The company had revenue of C$11.99 billion during the quarter. On average, equities research analysts anticipate that Imperial Oil will post 8.6164609 EPS for the current 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.