Imperial Oil (TSE:IMO) Given New C$37.00 Price Target at Royal Bank of Canada

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its price target decreased by research analysts at Royal Bank of Canada from C$39.00 to C$37.00 in a report issued on Friday, BayStreet.CA reports. Royal Bank of Canada’s price objective would suggest a potential upside of 14.66% from the stock’s current price.

Other research analysts also recently issued reports about the stock. National Bank Financial upped their target price on shares of Imperial Oil from C$45.00 to C$47.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 2nd. GMP Securities cut their target price on shares of Imperial Oil from C$40.00 to C$38.00 in a research report on Friday, June 28th. Raymond James set a C$37.00 target price on shares of Imperial Oil and gave the company an “underperform” rating in a research report on Monday, August 12th. CIBC upgraded shares of Imperial Oil from an “underperform” rating to a “neutral” rating and upped their target price for the company from C$37.00 to C$38.00 in a research report on Tuesday. Finally, Canaccord Genuity cut their target price on shares of Imperial Oil from C$45.00 to C$42.00 in a research report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of C$40.50.

Imperial Oil stock traded down C$0.36 during trading hours on Friday, reaching C$32.27. 471,842 shares of the company’s stock traded hands, compared to its average volume of 879,032. The company has a debt-to-equity ratio of 21.84, a quick ratio of 1.00 and a current ratio of 1.44. Imperial Oil has a fifty-two week low of C$31.51 and a fifty-two week high of C$44.50. The firm has a market capitalization of $24.71 billion and a price-to-earnings ratio of 8.16. The firm’s 50 day moving average is C$33.95 and its 200-day moving average is C$35.83.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last released its earnings results on Friday, August 2nd. The company reported C$0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.77 by C$0.12. The business had revenue of C$9.26 billion for the quarter, compared to analyst estimates of C$8.69 billion. Analysts predict that Imperial Oil will post 2.4499998 EPS for the current year.

Imperial Oil Company Profile

Imperial Oil Limited explores for, produces, and sells crude oil and natural gas in Canada. It operates through three segments: Upstream, Downstream, and Chemical. The Upstream segment explores for and produces crude oil, natural gas, synthetic oil, and bitumen. As of December 31, 2018, this segment had 404 million oil-equivalent barrels of proved undeveloped reserves.

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Analyst Recommendations for Imperial Oil (TSE:IMO)

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