National Bankshares Forecasts Strong Price Appreciation for Imperial Oil (TSE:IMO) Stock

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its price objective lifted by equities research analysts at National Bankshares from C$127.00 to C$139.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. National Bankshares’ target price suggests a potential downside of 7.90% from the company’s previous close.

Several other brokerages have also recently issued reports on IMO. Cibc World Mkts cut shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Desjardins upped their price target on Imperial Oil from C$114.00 to C$120.00 and gave the company a “sell” rating in a research report on Monday, November 24th. CIBC downgraded Imperial Oil from a “neutral” rating to an “underperform” rating and lifted their price objective for the stock from C$108.00 to C$110.00 in a research report on Wednesday, October 15th. Raymond James Financial upped their target price on Imperial Oil from C$106.00 to C$107.00 and gave the company an “underperform” rating in a report on Monday. Finally, JPMorgan Chase & Co. lifted their price target on Imperial Oil from C$99.00 to C$108.00 in a report on Tuesday. Six analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of C$114.60.

Imperial Oil Trading Up 3.6%

Shares of IMO stock opened at C$150.92 on Tuesday. Imperial Oil has a fifty-two week low of C$82.98 and a fifty-two week high of C$152.98. The company has a debt-to-equity ratio of 18.04, a quick ratio of 0.98 and a current ratio of 1.44. The stock’s fifty day moving average is C$128.97 and its two-hundred day moving average is C$126.03. The firm has a market capitalization of C$72.98 billion, a P/E ratio of 23.29, a PEG ratio of 0.21 and a beta of 0.95.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last released its earnings results on Friday, January 30th. The company reported C$1.97 earnings per share (EPS) for the quarter. Imperial Oil had a net margin of 10.00% and a return on equity of 21.23%. Research analysts expect that Imperial Oil will post 8.6164609 earnings per share for the current fiscal 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.