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Goldman Sachs Group cut Imperial Oil (TSE: IMO) price target to C $ 79.00

Imperial Oil (TSE: IMO – Get Rating) (NYSEMKT: IMO) Stock analysts at Goldman Sachs Group lowered their target price on C $ 79.00 in a research report issued to clients and investors on Wednesday, according to Stock Target Advisor. The brokerage currently has a “Buy” rating on the stock. The price objective of Goldman Sachs Group indicates a potential upside of 28.66% from the stock’s current price.

A number of other equities analysts have also recently issued reports on IMO. CSFB increased their target price on Imperial Oil from C $ 65.00 to C $ 72.00 in a report on Monday, May 9th. Citigroup boosted their target price on shares of Imperial Oil from C $ 47.00 to C $ 69.00 and gave the stock a “sector perform” rating in a research note on Friday, April 29th. Credit Suisse Group boosted their target price on shares of Imperial Oil to C $ 72.00 and gave the stock a “neutral” rating in a research note on Monday, May 9th. CIBC increased their target price on shares of Imperial Oil from C $ 70.00 to C $ 74.00 in a research note on Thursday, June 9th. Finally, Royal Bank of Canada raised their target price on shares of Imperial Oil from C $ 65.00 to C $ 66.00 and gave the stock an “outperform” rating in a research note on Thursday, May 12th. Eleven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of C $ 66.17.


Putin’s invasion of Ukraine has revealed that the West is dependent on Russia for their energy needs. Western countries are now struggling for sustainable, renewable energy. World leaders must find new sources of minerals such as copper, which is essential for their conversion to energy independence.

Shares of Imperial Oil Stock traded down C $ 3.74 on Wednesday, reaching C $ 61.40. 567,224 shares of the company’s stock traded hands, compared to its average volume of 1,540,436. The firm’s 50-day moving average price is C $ 66.24 and its two-hundred-day moving average price is C $ 57.53. The stock has a market cap of C $ 39.09 billion and a PE ratio of 13.12. Imperial Oil has a one year low of C $ 30.64 and a one year high of C $ 72.96. The company has a debt-to-equity ratio of 24.26, a current ratio of 1.24 and a quick ratio of 0.99.

Imperial Oil (TSE: IMO – Get Rating) (NYSEMKT: IMO) last released its quarterly earnings data on Friday, April 29th. The company reported C $ 1.75 EPS for the quarter, beating analysts ’consensus estimates of C $ 0.05 by C $ 1.70. The firm had revenue of C $ 12.69 billion during the quarter, compared to the consensus estimate of C $ 11.46 billion. On average, analysts forecast that Imperial Oil will post 8.5286454 earnings per share for the current fiscal year.

Profile of Imperial Oil Company (Get Rating)

Imperial Oil Limited is involved in the exploration, production and sale of crude oil and natural gas in Canada. The company operates through three divisions: Upstream, Downstream and Chemical. The upstream division explores and produces crude oil, natural gas, synthetic oil and bitumen. As of December 31, 2021, the division had undeveloped reserves of 386 million oil-equivalent barrels.

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