Scotia Cuts Imperial Oil (TSE:IMO) Price Target to C$156.00

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its price target dropped by Scotia from C$159.00 to C$156.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Scotia’s target price would suggest a potential downside of 11.75% from the stock’s current price.

Several other brokerages have also commented on IMO. Scotiabank upgraded shares of Imperial Oil to a “hold” rating in a research note on Friday, June 26th. Royal Bank Of Canada upped their price objective on shares of Imperial Oil from C$116.00 to C$124.00 and gave the company an “underperform” rating in a research report on Wednesday, April 8th. TD decreased their target price on Imperial Oil from C$156.00 to C$150.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. Desjardins set a C$160.00 target price on Imperial Oil and gave the stock a “hold” rating in a research report on Friday, July 17th. Finally, National Bank Financial boosted their price target on Imperial Oil from C$212.00 to C$214.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 8th. Five analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Imperial Oil has a consensus rating of “Reduce” and an average target price of C$143.25.

Imperial Oil Trading Down 1.6%

Shares of TSE IMO traded down C$2.79 during mid-day trading on Wednesday, hitting C$176.77. 355,591 shares of the company traded hands, compared to its average volume of 789,899. Imperial Oil has a 1 year low of C$114.02 and a 1 year high of C$191.76. The stock has a market capitalization of C$85.48 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 0.21 and a beta of 0.40. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 18.53. The business has a 50 day moving average of C$169.48 and a two-hundred day moving average of C$167.48.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last posted its quarterly earnings data on Friday, July 31st. The company reported C$4.52 EPS for the quarter. Imperial Oil had a net margin of 7.81% and a return on equity of 18.67%. The firm had revenue of C$15.98 billion during the quarter. On average, sell-side analysts anticipate that Imperial Oil will post 8.6164609 earnings per share for the current fiscal year.

Insider Buying and Selling at Imperial Oil

In other news, insider Ian Robert Laing sold 4,100 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of C$176.63, for a total transaction of C$724,183.00. Insiders have sold 6,569 shares of company stock valued at $1,144,955 over the last ninety days. Insiders own 71.26% of the company’s stock.

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.