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

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its price target upped by equities researchers at TD Securities from C$93.00 to C$96.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. TD Securities’ target price would suggest a potential downside of 0.64% from the stock’s current price.

A number of other research analysts also recently commented on the stock. Scotiabank downgraded shares of Imperial Oil from an “outperform” rating to a “sector perform” rating and set a C$110.00 price objective for the company. in a research note on Wednesday, September 25th. JPMorgan Chase & Co. increased their target price on Imperial Oil from C$97.00 to C$100.00 in a research note on Wednesday, November 13th. National Bankshares reduced their target price on Imperial Oil from C$115.00 to C$112.00 in a research note on Friday, September 27th. Raymond James upped their price target on Imperial Oil from C$99.00 to C$101.50 in a research report on Monday, November 4th. Finally, BMO Capital Markets upped their price target on Imperial Oil from C$115.00 to C$120.00 in a research report on Friday, October 4th. Nine equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of C$103.90.

Imperial Oil Price Performance

IMO stock traded down C$0.41 during trading on Friday, hitting C$96.62. The stock had a trading volume of 652,749 shares, compared to its average volume of 974,242. The company’s 50 day moving average price is C$103.79 and its two-hundred day moving average price is C$98.28. Imperial Oil has a 1-year low of C$73.67 and a 1-year high of C$108.89. The stock has a market cap of C$51.77 billion, a price-to-earnings ratio of 10.12, a price-to-earnings-growth ratio of 0.21 and a beta of 1.78. The company has a debt-to-equity ratio of 18.27, a quick ratio of 0.98 and a current ratio of 1.40.

Insider Activity

In other news, Director Bradley William Corson acquired 4,800 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average cost of C$97.44 per share, for a total transaction of C$467,713.92. 71.26% of the stock is currently 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.