Scotiabank Upgrades Imperial Oil (TSE:IMO) to “Strong-Buy”

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) was upgraded by investment analysts at Scotiabank from a “hold” rating to a “strong-buy” rating in a report released on Friday, Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. BMO Capital Markets lifted their price objective on shares of Imperial Oil from C$95.00 to C$115.00 in a research note on Thursday, March 28th. Royal Bank of Canada upped their price objective on shares of Imperial Oil from C$100.00 to C$105.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 1st. CIBC boosted their price target on Imperial Oil from C$90.00 to C$105.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. National Bankshares boosted their price target on shares of Imperial Oil from C$90.00 to C$120.00 and gave the company a “sector perform” rating in a report on Friday, April 19th. Finally, Raymond James set a C$93.00 price target on shares of Imperial Oil and gave the stock a “market perform” rating in a research report on Wednesday, May 29th. Nine investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of C$96.07.

Imperial Oil Stock Down 0.4 %

IMO stock opened at C$88.11 on Friday. Imperial Oil has a 52-week low of C$63.19 and a 52-week high of C$101.63. The company has a debt-to-equity ratio of 18.65, a current ratio of 1.34 and a quick ratio of 0.98. The firm has a market capitalization of C$47.21 billion, a P/E ratio of 10.02, a P/E/G ratio of 0.21 and a beta of 1.83. The company’s 50 day simple moving average is C$94.34 and its 200-day simple moving average is C$85.92.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last posted its quarterly earnings results on Friday, April 26th. The company reported C$2.23 earnings per share for the quarter, beating the consensus estimate of C$2.00 by C$0.23. Imperial Oil had a return on equity of 20.78% and a net margin of 9.50%. The firm had revenue of C$12.28 billion for the quarter, compared to analyst estimates of C$15.74 billion. As a group, equities research analysts anticipate that Imperial Oil will post 9.6175299 EPS for the current 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.