Scotiabank Lowers Imperial Oil (TSE:IMO) to Sector Perform

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) was downgraded by equities research analysts at Scotiabank from an “outperform” rating to a “sector perform” rating in a research note issued on Wednesday, BayStreet.CA reports. They presently have a C$110.00 target price on the stock. Scotiabank’s target price would suggest a potential upside of 16.33% from the company’s previous close.

A number of other analysts have also commented on the stock. TD Securities lifted their price target on shares of Imperial Oil from C$91.00 to C$92.00 and gave the stock a “hold” rating in a research note on Thursday, August 8th. Wolfe Research upgraded shares of Imperial Oil to a “strong-buy” rating in a research note on Thursday, July 18th. Raymond James set a C$93.00 price objective on shares of Imperial Oil and gave the stock a “market perform” rating in a report on Wednesday, May 29th. Royal Bank of Canada dropped their price objective on shares of Imperial Oil from C$108.00 to C$99.00 in a report on Tuesday, September 17th. Finally, Desjardins raised their price objective on shares of Imperial Oil from C$92.00 to C$101.00 and gave the stock a “hold” rating in a report on Tuesday, July 23rd. Ten 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, Imperial Oil has an average rating of “Hold” and a consensus target price of C$99.69.

Imperial Oil Stock Down 1.4 %

TSE:IMO traded down C$1.36 on Wednesday, reaching C$94.56. 406,123 shares of the stock traded hands, compared to its average volume of 955,312. The company has a market capitalization of C$50.67 billion, a price-to-earnings ratio of 9.91, a PEG ratio of 0.21 and a beta of 1.80. The company has a current ratio of 1.40, a quick ratio of 0.98 and a debt-to-equity ratio of 18.27. Imperial Oil has a 12 month low of C$72.03 and a 12 month high of C$106.09. The company’s fifty day simple moving average is C$97.38 and its 200 day simple moving average is C$95.02.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last announced its quarterly earnings results on Friday, August 2nd. The company reported C$2.11 EPS for the quarter, topping analysts’ consensus estimates of C$1.94 by C$0.17. Imperial Oil had a net margin of 10.09% and a return on equity of 22.17%. The firm had revenue of C$13.38 billion during the quarter, compared to analyst estimates of C$14.30 billion. Equities analysts predict that Imperial Oil will post 8.0042992 EPS for the current fiscal year.

About Imperial Oil

Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment transports and refines crude oil, blends refined products, and distributes and markets of refined products.