Raymond James Financial Forecasts Strong Price Appreciation for Imperial Oil (TSE:IMO) Stock

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its price target raised by research analysts at Raymond James Financial from C$107.00 to C$126.00 in a report released on Monday,BayStreet.CA reports. Raymond James Financial’s target price would suggest a potential downside of 30.85% from the stock’s current price.

A number of other research analysts also recently commented on IMO. Desjardins boosted their target price on Imperial Oil from C$120.00 to C$132.00 and gave the company a “sell” rating in a research note on Friday, February 20th. TD Securities raised their price target on Imperial Oil from C$101.00 to C$110.00 and gave the stock a “sell” rating in a research note on Monday, February 23rd. National Bank Financial lifted their price target on Imperial Oil from C$127.00 to C$139.00 and gave the company a “sector perform” rating in a report on Tuesday, February 3rd. JPMorgan Chase & Co. boosted their price target on Imperial Oil from C$99.00 to C$108.00 in a research note on Tuesday, February 3rd. Finally, UBS Group raised their price objective on shares of Imperial Oil from C$155.00 to C$185.00 in a research report on Monday, March 16th. Four equities research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Strong Sell” and an average price target of C$130.82.

Imperial Oil Trading Up 0.9%

Shares of TSE:IMO opened at C$182.21 on Monday. The firm has a fifty day moving average of C$160.16 and a two-hundred day moving average of C$138.97. The company has a quick ratio of 0.98, a current ratio of 1.27 and a debt-to-equity ratio of 19.69. Imperial Oil has a 12-month low of C$82.98 and a 12-month high of C$185.13. The firm has a market capitalization of C$88.12 billion, a P/E ratio of 28.12, a price-to-earnings-growth ratio of 0.21 and a beta of 0.90.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last posted its quarterly earnings results on Friday, January 30th. The company reported C$1.97 earnings per share for the quarter. Imperial Oil had a net margin of 7.02% and a return on equity of 14.75%. The business had revenue of C$11.28 billion for the quarter. On average, equities analysts expect that Imperial Oil will post 8.6164609 EPS for the current fiscal 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. Imperial remains the largest refiner of petroleum products in Canada, operating three refineries with a combined processing capacity of 421 mboe/d.