Imperial Oil (TSE:IMO) Stock Price Expected to Rise, Raymond James Analyst Says

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its price target increased by investment analysts at Raymond James from C$101.50 to C$104.00 in a research note issued on Friday,BayStreet.CA reports. Raymond James’ price target indicates a potential upside of 7.64% from the company’s current price.

A number of other equities analysts also recently issued reports on IMO. Royal Bank of Canada raised their price objective on Imperial Oil from C$99.00 to C$101.00 in a research report on Wednesday, November 6th. Scotiabank downgraded Imperial Oil from an “outperform” rating to a “sector perform” rating and set a C$110.00 price objective for the company. in a research report on Wednesday, September 25th. National Bankshares lowered their target price on Imperial Oil from C$115.00 to C$112.00 in a report on Friday, September 27th. BMO Capital Markets lifted their target price on Imperial Oil from C$115.00 to C$120.00 in a report on Friday, October 4th. Finally, JPMorgan Chase & Co. lifted their target price on Imperial Oil from C$97.00 to C$100.00 in a report on Wednesday, November 13th. Nine equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Imperial Oil presently has a consensus rating of “Hold” and a consensus price target of C$103.90.

Imperial Oil Price Performance

TSE:IMO traded down C$0.41 during trading hours on Friday, hitting C$96.62. The company’s stock had a trading volume of 652,749 shares, compared to its average volume of 974,242. The company has a debt-to-equity ratio of 18.27, a current ratio of 1.40 and a quick ratio of 0.98. The company has a market capitalization of C$51.77 billion, a P/E ratio of 10.13, a PEG ratio of 0.21 and a beta of 1.78. Imperial Oil has a twelve month low of C$73.67 and a twelve month high of C$108.89. The stock has a fifty day simple moving average of C$103.79 and a 200-day simple moving average of C$98.28.

Insider Transactions at Imperial Oil

In other Imperial Oil news, Director Bradley William Corson purchased 4,800 shares of the stock in a transaction on Thursday, December 12th. The stock was acquired at an average price of C$97.44 per share, with a total value of C$467,713.92. Company insiders own 71.26% of the company’s stock.

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.