Imperial Oil (IMO) Upgraded at TheStreet

TheStreet upgraded shares of Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) from a c rating to a b- rating in a research note issued to investors on Friday morning.

Several other research firms also recently commented on IMO. CIBC assumed coverage on shares of Imperial Oil in a research note on Friday. They issued a sector underperform rating on the stock. Barclays raised shares of Imperial Oil from an underweight rating to an equal weight rating in a research note on Wednesday, July 11th. Finally, Zacks Investment Research downgraded shares of Imperial Oil from a buy rating to a hold rating in a research note on Wednesday, July 18th. Three equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $43.60.

Imperial Oil stock opened at $33.88 on Friday. Imperial Oil has a 12-month low of $25.91 and a 12-month high of $34.29.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last released its earnings results on Friday, July 27th. The energy company reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.26). The firm had revenue of $9.54 billion during the quarter, compared to the consensus estimate of $9 billion. Imperial Oil had a negative return on equity of 2.22% and a negative net margin of 1.70%. Imperial Oil’s revenue was up 35.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.09) EPS.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bridgewater Associates LP boosted its holdings in shares of Imperial Oil by 95.4% in the 2nd quarter. Bridgewater Associates LP now owns 148,070 shares of the energy company’s stock valued at $4,919,000 after buying an additional 72,298 shares in the last quarter. Toronto Dominion Bank boosted its holdings in shares of Imperial Oil by 78.8% in the 2nd quarter. Toronto Dominion Bank now owns 1,558,572 shares of the energy company’s stock valued at $52,534,000 after buying an additional 686,675 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Imperial Oil by 26.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,019,745 shares of the energy company’s stock valued at $33,907,000 after buying an additional 215,434 shares in the last quarter. Fiera Capital Corp boosted its holdings in shares of Imperial Oil by 7.0% in the 2nd quarter. Fiera Capital Corp now owns 939,531 shares of the energy company’s stock valued at $31,234,000 after buying an additional 61,760 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Imperial Oil by 6.9% in the 2nd quarter. Legal & General Group Plc now owns 1,171,883 shares of the energy company’s stock valued at $38,930,000 after buying an additional 75,395 shares in the last quarter.

About Imperial Oil

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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Analyst Recommendations for Imperial Oil (NYSEAMERICAN:IMO)

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