Imperial Oil (TSE:IMO) Stock Rating Upgraded by Raymond James

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) was upgraded by analysts at Raymond James from a “market perform” rating to an “outperform” rating in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has a C$104.00 price target on the stock, down from their prior price target of C$108.00. Raymond James’ target price would indicate a potential upside of 14.92% from the stock’s current price.

Several other equities research analysts also recently issued reports on IMO. The Goldman Sachs Group downgraded Imperial Oil from a “neutral” rating to a “sell” rating in a research note on Thursday, March 27th. Scotiabank upgraded shares of Imperial Oil to a “hold” rating in a report on Wednesday, March 19th. Wolfe Research lowered shares of Imperial Oil from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 3rd. TD Securities lifted their target price on shares of Imperial Oil from C$94.00 to C$97.00 and gave the company a “hold” rating in a research note on Friday, February 21st. Finally, CIBC upped their price target on shares of Imperial Oil from C$105.00 to C$108.00 in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of C$105.67.

Imperial Oil Trading Up 5.6 %

TSE IMO traded up C$4.76 on Wednesday, hitting C$90.50. 392,721 shares of the stock were exchanged, compared to its average volume of 895,742. The company’s 50-day moving average price is C$98.26 and its two-hundred day moving average price is C$99.14. The company has a market capitalization of C$47.24 billion, a price-to-earnings ratio of 9.72, a P/E/G ratio of 0.21 and a beta of 1.78. Imperial Oil has a 52-week low of C$83.19 and a 52-week high of C$108.89. The company has a debt-to-equity ratio of 18.04, a current ratio of 1.44 and a quick ratio of 0.98.

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.