Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) was upgraded by Tudor Pickering from a “hold” rating to a “buy” rating in a research report issued on Thursday, MarketBeat.com reports.
Several other research firms also recently weighed in on IMO. TheStreet upgraded shares of Imperial Oil from a “c” rating to a “b-” rating in a research report on Friday, October 5th. CIBC started coverage on shares of Imperial Oil in a research report on Friday, October 5th. They issued a “sector underperform” rating on the stock. Zacks Investment Research upgraded shares of Imperial Oil from a “hold” rating to a “strong-buy” rating and set a $38.00 price target on the stock in a research report on Thursday, July 5th. Finally, Barclays upgraded shares of Imperial Oil from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, July 11th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Imperial Oil has a consensus rating of “Hold” and an average price target of $43.60.
Shares of Imperial Oil stock opened at $32.80 on Thursday. Imperial Oil has a twelve month low of $25.91 and a twelve month high of $34.29.
Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last issued its quarterly earnings data on Friday, July 27th. The energy company reported $0.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.26). The company had revenue of $9.54 billion for the quarter, compared to the consensus estimate of $9 billion. Imperial Oil had a negative net margin of 1.70% and a negative return on equity of 2.22%. The firm’s revenue for the quarter was up 35.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.09) EPS.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in IMO. US Bancorp DE increased its stake in shares of Imperial Oil by 20.0% in the second quarter. US Bancorp DE now owns 10,781 shares of the energy company’s stock worth $358,000 after purchasing an additional 1,794 shares in the last quarter. Burney Co. increased its stake in shares of Imperial Oil by 13.0% in the second quarter. Burney Co. now owns 26,084 shares of the energy company’s stock worth $868,000 after purchasing an additional 3,004 shares in the last quarter. Wolverine Asset Management LLC purchased a new stake in shares of Imperial Oil in the second quarter worth $166,000. Tower Research Capital LLC TRC increased its stake in shares of Imperial Oil by 260.9% in the second quarter. Tower Research Capital LLC TRC now owns 8,383 shares of the energy company’s stock worth $279,000 after purchasing an additional 6,060 shares in the last quarter. Finally, Creative Planning purchased a new stake in shares of Imperial Oil in the second quarter worth $209,000.
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.
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