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

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its price objective raised by analysts at TD Securities from C$93.00 to C$96.00 in a research note issued on Friday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock.

A number of other brokerages have also recently issued reports on IMO. BMO Capital Markets boosted their target price on shares of Imperial Oil from C$115.00 to C$120.00 in a research report on Friday, October 4th. 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 report on Wednesday, September 25th. JPMorgan Chase & Co. increased their target price on shares of Imperial Oil from C$97.00 to C$100.00 in a research report on Wednesday, November 13th. Raymond James lifted their price target on shares of Imperial Oil from C$99.00 to C$101.50 in a research report on Monday, November 4th. Finally, Royal Bank of Canada increased their price target on Imperial Oil from C$99.00 to C$101.00 in a research report on Wednesday, November 6th. Nine analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Imperial Oil currently has an average rating of “Hold” and an average target price of C$103.90.

Imperial Oil Stock Performance

TSE:IMO opened at C$96.00 on Friday. The company has a current ratio of 1.40, a quick ratio of 0.98 and a debt-to-equity ratio of 18.27. The stock has a 50 day simple moving average of C$103.73 and a 200 day simple moving average of C$98.33. 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$51.44 billion, a P/E ratio of 10.06, a PEG ratio of 0.21 and a beta of 1.78.

Insiders Place Their Bets

In other Imperial Oil news, Director Bradley William Corson purchased 4,800 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were bought at an average price of C$97.44 per share, for a total transaction of C$467,713.92. 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.