Citigroup Raises Imperial Oil (TSE:IMO) Price Target to C$31.00

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its price target upped by investment analysts at Citigroup from C$30.00 to C$31.00 in a research report issued on Thursday, BayStreet.CA reports. Citigroup‘s price target would indicate a potential downside of 12.99% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Canaccord Genuity boosted their price target on shares of Imperial Oil from C$39.00 to C$40.00 in a report on Tuesday. CIBC raised shares of Imperial Oil from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from C$37.00 to C$38.00 in a research report on Tuesday, October 15th. Raymond James reaffirmed an “underperform” rating and issued a C$31.00 price objective on shares of Imperial Oil in a research report on Wednesday, November 13th. Tudor Pickering & Holt set a C$37.00 price objective on shares of Imperial Oil and gave the company a “hold” rating in a research report on Tuesday. Finally, Scotiabank cut their price objective on shares of Imperial Oil from C$37.00 to C$36.00 in a research report on Tuesday. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of C$37.38.

Shares of IMO stock traded up C$0.56 on Thursday, hitting C$35.63. The stock had a trading volume of 509,207 shares, compared to its average volume of 712,045. Imperial Oil has a twelve month low of C$31.51 and a twelve month high of C$40.59. The firm has a market cap of $26.40 billion and a P/E ratio of 9.92. The company has a current ratio of 1.45, a quick ratio of 1.07 and a debt-to-equity ratio of 21.91. The company has a fifty day moving average price of C$34.00 and a two-hundred day moving average price of C$34.17.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last announced its quarterly earnings results on Friday, November 1st. The company reported C$0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.58 by C($0.02). The firm had revenue of C$8.74 billion for the quarter, compared to the consensus estimate of C$8.91 billion. On average, analysts expect that Imperial Oil will post 2.4100001 earnings per share for the current year.

About Imperial Oil

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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