Imperial Oil (IMO) Stock Rating Upgraded by TheStreet

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) was upgraded by equities research analysts at TheStreet from a “c” rating to a “b-” rating in a research note issued on Friday.

Other equities analysts have also recently issued research reports about the company. Barclays upgraded Imperial Oil from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, July 11th. CIBC initiated coverage on Imperial Oil in a research report on Friday. They issued a “sector underperform” rating on the stock. Finally, Zacks Investment Research cut Imperial Oil from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. Three analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. The company has an average rating of “Hold” and an average price target of $43.60.

Imperial Oil stock opened at $33.88 on Friday. Imperial Oil has a fifty-two week low of $25.91 and a fifty-two week high of $34.29.

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

A number of hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company lifted its stake in Imperial Oil by 2.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,965,101 shares of the energy company’s stock valued at $52,076,000 after buying an additional 50,624 shares in the last quarter. Toronto Dominion Bank lifted its stake in 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. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Imperial Oil by 69.2% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,372,800 shares of the energy company’s stock valued at $45,605,000 after buying an additional 561,400 shares in the last quarter. Legal & General Group Plc lifted its stake in 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. Finally, Dimensional Fund Advisors LP lifted its stake in 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.

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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