Raymond James Issues Positive Forecast for Imperial Oil (TSE:IMO) Stock Price

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its price objective raised by equities researchers at Raymond James from C$101.50 to C$104.00 in a research report issued on Friday,BayStreet.CA reports. Raymond James’ price target points to a potential upside of 8.33% from the stock’s current price.

A number of other research analysts have also recently issued reports on the stock. Royal Bank of Canada boosted their price objective on shares of Imperial Oil from C$99.00 to C$101.00 in a research note on Wednesday, November 6th. BMO Capital Markets lifted their price target on Imperial Oil from C$115.00 to C$120.00 in a research report on Friday, October 4th. National Bankshares dropped their target price on shares of Imperial Oil from C$115.00 to C$112.00 in a research note on Friday, September 27th. TD Securities increased their target price on Imperial Oil from C$93.00 to C$96.00 and gave the company a “hold” rating in a research note on Friday. Finally, Scotiabank cut Imperial Oil from an “outperform” rating to a “sector perform” rating and set a C$110.00 price target for the company. in a research note on Wednesday, September 25th. Nine investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Imperial Oil currently has a consensus rating of “Hold” and an average target price of C$103.90.

Imperial Oil Price Performance

Shares of IMO stock opened at C$96.00 on Friday. The business’s fifty day moving average is C$103.73 and its 200 day moving average is C$98.33. The company has a quick ratio of 0.98, a current ratio of 1.40 and a debt-to-equity ratio of 18.27. The stock has a market cap of C$51.44 billion, a price-to-earnings ratio of 10.06, a PEG ratio of 0.21 and a beta of 1.78. Imperial Oil has a twelve month low of C$73.67 and a twelve month high of C$108.89.

Insider Buying and Selling at Imperial Oil

In related news, Director Bradley William Corson bought 4,800 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average cost of C$97.44 per share, with a total value of C$467,713.92. Corporate insiders own 71.26% of the company’s stock.

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.