TD Securities Forecasts Strong Price Appreciation for Imperial Oil (TSE:IMO) Stock

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its target price lifted by equities research analysts at TD Securities from C$93.00 to C$96.00 in a report issued on Friday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. TD Securities’ price objective would indicate a potential downside of 0.64% from the stock’s previous close.

Other research analysts also recently issued reports about the company. 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. Scotiabank downgraded Imperial Oil from an “outperform” rating to a “sector perform” rating and set a C$110.00 target price on the stock. in a report on Wednesday, September 25th. 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. National Bankshares cut their target price on Imperial Oil from C$115.00 to C$112.00 in a report on Friday, September 27th. Finally, Raymond James boosted their price objective on Imperial Oil from C$99.00 to C$101.50 in a research note on Monday, November 4th. Nine analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of C$103.90.

Imperial Oil Price Performance

IMO stock traded down C$0.41 during midday trading on Friday, reaching C$96.62. 652,749 shares of the stock were exchanged, compared to its average volume of 974,242. The stock has a market capitalization of C$51.77 billion, a PE ratio of 10.12, a P/E/G ratio of 0.21 and a beta of 1.78. Imperial Oil has a 52 week low of C$73.67 and a 52 week high of C$108.89. 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 fifty day moving average price of C$103.79 and a 200 day moving average price of C$98.28.

Insider Activity at Imperial Oil

In related news, Director Bradley William Corson acquired 4,800 shares of Imperial Oil stock in a transaction dated Thursday, December 12th. The shares were purchased at an average cost of C$97.44 per share, with a total value of C$467,713.92. 71.26% of the stock is owned by insiders.

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.