Imperial Oil (TSE:IMO) Lowered to “Market Perform” Rating by BMO Capital Markets

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) was downgraded by BMO Capital Markets from an “outperform” rating to a “market perform” rating in a note issued to investors on Monday,BayStreet.CA reports. They presently have a C$129.00 target price on the stock, down from their previous target price of C$132.00. BMO Capital Markets’ target price would indicate a potential upside of 4.39% from the stock’s current price.

Other equities analysts have also issued research reports about the company. TD Securities increased their target price on Imperial Oil from C$104.00 to C$107.00 and gave the stock a “sell” rating in a research note on Tuesday, November 4th. Cibc World Mkts cut shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. JPMorgan Chase & Co. lifted their price objective on shares of Imperial Oil from C$101.00 to C$110.00 in a report on Thursday, October 23rd. Morgan Stanley upped their target price on shares of Imperial Oil from C$97.00 to C$101.00 in a research note on Thursday, November 20th. Finally, Raymond James Financial cut shares of Imperial Oil from a “hold” rating to a “strong sell” rating and raised their price target for the company from C$110.00 to C$111.00 in a research report on Monday, December 8th. Six equities research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of C$112.50.

Imperial Oil Trading Down 2.3%

Shares of TSE:IMO traded down C$2.93 during mid-day trading on Monday, reaching C$123.58. 369,117 shares of the company were exchanged, compared to its average volume of 832,573. The company has a debt-to-equity ratio of 18.04, a current ratio of 1.44 and a quick ratio of 0.98. The firm has a market cap of C$61.40 billion, a price-to-earnings ratio of 15.78, a P/E/G ratio of 0.21 and a beta of 1.04. The firm’s 50-day simple moving average is C$129.57 and its 200 day simple moving average is C$120.70. Imperial Oil has a 1 year low of C$82.98 and a 1 year high of C$141.17.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last announced its earnings results on Friday, October 31st. The company reported C$2.17 earnings per share (EPS) for the quarter. Imperial Oil had a return on equity of 21.23% and a net margin of 10.00%.The company had revenue of C$11.99 billion for the quarter. Equities research analysts forecast that Imperial Oil will post 8.6164609 EPS for the current year.

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.