Imperial Oil stock: National Bank keeps Hold at CAD 213.00

Published on 10/21/2026 at 17:32 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

National Bank set CAD 213.00 on October 20, 2026. Imperial Oil stock costs EUR 120.58 on October 21, 2026, up 0.48 percent versus Tradegate close.

National Bank sets CAD 213.00 target

National Bank maintained a Hold rating and set a CAD 213.00 target on October 20, 2026.
Imperial Oil reported CAD 2.19 billion in second-quarter net income and CAD 16.06 billion in revenue.
Imperial Oil stock costs EUR 120.58 at Lang & Schwarz on October 21, 2026 at 5:30 p.m. CEST, 0.48 percent above the Tradegate close of October 19, 2026.
Imperial Oil is scheduled to release third-quarter results on October 30, 2026.

IMO, CA4530384086, Illustration mit AI erstellt.

National Bank maintained a Hold rating on Imperial Oil and set a CAD 213.00 price target in a report dated October 20, 2026, according to Markets Insider. The target stood 12.02 percent above Imperial Oil's CAD 190.15 Toronto close on October 20, 2026. Imperial Oil stock was trading at EUR 120.58 at Lang & Schwarz on October 21, 2026 at 5:30 p.m. CEST, up 0.48 percent versus the Tradegate close of October 19, 2026.

Target sits above current valuation

The National Bank view adds a measured analyst signal after Imperial Oil's strong first-half operating performance. A Hold rating gives the CAD 213.00 target less force than a bullish recommendation, while the target still implies a double-digit premium to the latest Toronto close.

Imperial Oil reported CAD 2.19 billion in net income and CAD 16.06 billion in revenue for the second quarter ended June 30, 2026, according to the company's Imperial Oil investor relations page. The revenue figure was higher than the CAD 11.21 billion reported for the same quarter a year earlier, while net income rose from CAD 949 million.

Operations frame the next results

Imperial Oil's investor materials also list second-quarter upstream production of 414,000 gross barrels of oil equivalent per day and refinery throughput of 331,000 barrels per day. Those figures place production and refining capacity at the center of the next earnings update rather than making the analyst target the only valuation signal.

For the first half of 2026, Imperial Oil generated CAD 28.5 billion in revenue, up 20.00 percent from CAD 23.7 billion a year earlier, while net profit reached CAD 3.1 billion from CAD 2.2 billion, according to MarketScreener in its October 13, 2026 review. Refinery throughput fell 7.50 percent year over year to 358,000 barrels per day in the first half, and petroleum product sales declined 5.10 percent to 444,000 barrels per day.

October 30 is the next date

Imperial Oil is scheduled to release third-quarter 2026 results on October 30, 2026, before the open, with an earnings call at 9:00 a.m. Mountain Time. The company's investor relations page identifies IMO as listed on the TSX and NYSE and places the third-quarter release in its upcoming events calendar.

Valuation against energy peers

Imperial Oil's structured market figures put its market capitalization at USD 65.4 billion and its price-to-earnings ratio at 21.30 as of October 21, 2026. Suncor Energy carried a USD 92.8 billion market capitalization and a 14.74 ratio, while Canadian Natural Resources had a USD 111.9 billion market capitalization and a 13.61 ratio on the same date. The comparison points to a higher earnings multiple for Imperial Oil, although the companies have different production and refining mixes.

Price holds above the German close

At EUR 120.58, the Lang & Schwarz quote was EUR 0.58 above the Tradegate close of EUR 120.00 from October 19, 2026. The 52-week range in the U.S. quote was USD 83.27 to USD 139.44 as of October 21, 2026, while the latest U.S. price was USD 135.33 at 11:31 a.m. ET.

The further course of trading is shown by the continuously updated real-time quote of Imperial Oil stock.