JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Imperial Oil (TSE:IMO) Stock

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its target price boosted by stock analysts at JPMorgan Chase & Co. from C$99.00 to C$108.00 in a note issued to investors on Tuesday,BayStreet.CA reports. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 25.39% from the company’s previous close.

Several other research firms have also issued reports on IMO. TD Securities decreased their target price on Imperial Oil from C$107.00 to C$106.00 in a research note on Tuesday, December 16th. CIBC lowered shares of Imperial Oil from a “neutral” rating to an “underperform” rating and raised their price objective for the company from C$108.00 to C$110.00 in a research note on Wednesday, October 15th. National Bankshares upped their target price on shares of Imperial Oil from C$125.00 to C$127.00 and gave the stock a “sector perform” rating in a research note on Friday, January 9th. Raymond James Financial increased their price objective on Imperial Oil from C$106.00 to C$107.00 and gave the company an “underperform” rating in a research note on Monday. Finally, Desjardins lifted their price objective on Imperial Oil from C$114.00 to C$120.00 and gave the company a “sell” rating in a research note on Monday, November 24th. Six investment analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, Imperial Oil presently has an average rating of “Reduce” and an average price target of C$114.60.

Imperial Oil Price Performance

IMO traded up C$4.48 during trading on Tuesday, reaching C$144.75. The company’s stock had a trading volume of 610,817 shares, compared to its average volume of 991,503. The company has a market cap of C$70.00 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 0.21 and a beta of 0.89. The firm has a fifty day simple moving average of C$128.57 and a two-hundred day simple moving average of C$125.62. Imperial Oil has a 1 year low of C$82.98 and a 1 year high of C$144.91. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 18.04.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last announced its quarterly earnings results on Friday, January 30th. The company reported C$1.97 earnings per share for the quarter. Imperial Oil had a net margin of 10.00% and a return on equity of 21.23%. As a group, analysts anticipate 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. Imperial remains the largest refiner of petroleum products in Canada, operating three refineries with a combined processing capacity of 421 mboe/d.