Canaccord Genuity Boosts Imperial Oil (IMO) Price Target to C$45.00

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its price target boosted by Canaccord Genuity from C$40.00 to C$45.00 in a research report report published on Monday morning.

Other research analysts have also issued reports about the stock. TD Securities lifted their price target on shares of Imperial Oil to C$41.00 and gave the company a hold rating in a report on Monday, May 7th. Raymond James lowered shares of Imperial Oil from a market perform rating to an underperform rating and decreased their price target for the company from C$40.00 to C$38.00 in a report on Tuesday, April 24th. Barclays lifted their price target on shares of Imperial Oil from C$38.00 to C$40.00 in a report on Monday, April 30th. Royal Bank of Canada lifted their price target on shares of Imperial Oil from C$42.00 to C$43.00 and gave the company a sector perform rating in a report on Friday, May 4th. Finally, AltaCorp Capital raised shares of Imperial Oil from an underperform rating to a sector perform rating in a report on Monday, January 15th. Four investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Imperial Oil has an average rating of Hold and a consensus price target of C$41.64.

IMO opened at C$41.74 on Monday. Imperial Oil has a 1-year low of C$33.43 and a 1-year high of C$42.52.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last released its earnings results on Friday, April 27th. The company reported C$0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.49 by C$0.13. The company had revenue of C$7.93 billion during the quarter, compared to the consensus estimate of C$7.60 billion.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, July 1st. Stockholders of record on Friday, June 1st will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, May 31st. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.16. This represents a $0.76 annualized dividend and a dividend yield of 1.82%.

Imperial Oil Company Profile

Imperial Oil Limited explores for, produces, and sells crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream, and Chemical. The Upstream segment explores for and produces crude oil, natural gas, synthetic oil, and bitumen. As of December 31, 2017, this segment had 450 million oil-equivalent barrels of proved undeveloped reserves.

Analyst Recommendations for Imperial Oil (TSE:IMO)

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