Desjardins reiterated their hold rating on shares of Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) in a research report released on Tuesday, February 5th. Desjardins currently has a $38.00 price objective on the energy company’s stock.
Several other equities research analysts have also recently weighed in on IMO. Zacks Investment Research cut Imperial Oil from a buy rating to a hold rating in a research note on Thursday, November 29th. BMO Capital Markets reiterated an average rating and issued a $48.00 price objective on shares of Imperial Oil in a research note on Thursday, November 8th. Tudor Pickering raised Imperial Oil from a hold rating to a buy rating in a report on Thursday, October 11th. CIBC restated a sell rating on shares of Imperial Oil in a research report on Thursday, November 8th. Finally, TD Securities restated a hold rating and issued a $37.00 price objective on shares of Imperial Oil in a report on Monday, January 7th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $38.15.
Shares of NYSEAMERICAN IMO traded down $0.23 during trading on Tuesday, hitting $26.70. 460,087 shares of the company were exchanged, compared to its average volume of 384,424. Imperial Oil has a 12-month low of $24.29 and a 12-month high of $34.56.
Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last issued its quarterly earnings data on Friday, February 1st. The energy company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.24. The business had revenue of $7.89 billion for the quarter, compared to analyst estimates of $8.89 billion. During the same period in the previous year, the business posted ($0.16) earnings per share. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its stake in Imperial Oil by 53.5% in the 2nd quarter. Bank of America Corp DE now owns 198,494 shares of the energy company’s stock worth $6,600,000 after purchasing an additional 69,207 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Imperial Oil in the 2nd quarter worth $486,000. Bank of New York Mellon Corp increased its holdings in shares of Imperial Oil by 5.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 504,841 shares of the energy company’s stock worth $16,786,000 after buying an additional 24,866 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Imperial Oil by 16.9% in the 2nd quarter. Northern Trust Corp now owns 448,061 shares of the energy company’s stock worth $14,898,000 after buying an additional 64,747 shares during the last quarter. Finally, Fruth Investment Management bought a new position in shares of Imperial Oil in the 3rd quarter worth $246,000.
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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