BMO Capital Markets Reiterates “Average” Rating for Imperial Oil (IMO)

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO)‘s stock had its “average” rating reissued by BMO Capital Markets in a report issued on Thursday. They currently have a $48.00 price target on the energy company’s stock. BMO Capital Markets’ target price would suggest a potential upside of 54.59% from the company’s previous close.

Several other equities analysts have also weighed in on the company. Goldman Sachs Group upgraded Imperial Oil from a “sell” rating to a “buy” rating in a report on Friday, October 19th. GMP Securities upgraded Imperial Oil from a “hold” rating to a “buy” rating in a report on Thursday. Barclays upgraded Imperial Oil from an “underweight” rating to an “equal weight” rating in a report on Wednesday, July 11th. TD Securities restated a “hold” rating on shares of Imperial Oil in a report on Thursday. Finally, Royal Bank of Canada restated a “hold” rating on shares of Imperial Oil in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $45.25.

IMO opened at $31.05 on Thursday. Imperial Oil has a 1 year low of $25.91 and a 1 year high of $34.56.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last released its quarterly earnings data on Friday, November 2nd. The energy company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. The firm had revenue of $9.73 billion for the quarter, compared to analyst estimates of $10.67 billion. Imperial Oil’s revenue for the quarter was up 36.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 EPS.

Several institutional investors have recently bought and sold shares of IMO. Dimensional Fund Advisors LP increased its stake in shares of Imperial Oil by 14.4% in the first quarter. Dimensional Fund Advisors LP now owns 804,311 shares of the energy company’s stock worth $21,314,000 after purchasing an additional 101,055 shares during the period. Suntrust Banks Inc. bought a new position in shares of Imperial Oil in the first quarter worth about $277,000. Hexavest Inc. bought a new position in shares of Imperial Oil in the second quarter worth about $10,454,000. NN Investment Partners Holdings N.V. increased its stake in shares of Imperial Oil by 21.9% in the second quarter. NN Investment Partners Holdings N.V. now owns 62,096 shares of the energy company’s stock worth $2,064,000 after purchasing an additional 11,164 shares during the period. Finally, Creative Planning bought a new position in shares of Imperial Oil in the second quarter worth about $209,000.

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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