Recent Analysts’ Ratings Updates for Imperial Oil (IMO)

Imperial Oil (NYSEAMERICAN: IMO) has recently received a number of price target changes and ratings updates:

  • 2/5/2019 – Imperial Oil had its “hold” rating reaffirmed by analysts at Desjardins. They now have a $38.00 price target on the stock.
  • 2/2/2019 – Imperial Oil had its “sell” rating reaffirmed by analysts at CIBC.
  • 1/29/2019 – Imperial Oil was given a new $42.00 price target on by analysts at Morgan Stanley. They now have a “hold” rating on the stock.
  • 1/28/2019 – Imperial Oil is now covered by analysts at Credit Suisse Group AG. They set an “underperform” rating and a $27.89 price target on the stock.
  • 1/16/2019 – Imperial Oil was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Amid several headwinds, the investment thesis of Imperial Oil is downgraded from ‘Hold’ to ‘Sell’. As already known, pipeline construction in Canada has failed to keep pace with the rising domestic oil, forcing the producers to sell their products at a discounted rate. The upstream segment of Imperial oil is likely to get impacted by this crisis. As it is, the high breakeven costs associated with oil sands operations and refining of heavy crude, limits the earnings IMO. Increasing costs of the company is further putting pressure on the profits of the company. Moreover, prolonged delays in the company’s major oil sands project Aspen is also a cause of concern. Add to that, complex regulatory environment of Canada along with IMO’s pricey valuation are other concerns. Hence Imperial Oil is considered as a risky bet as of now.”
  • 1/10/2019 – Imperial Oil was downgraded by analysts at Canaccord Genuity from a “buy” rating to a “hold” rating.
  • 1/7/2019 – Imperial Oil was downgraded by analysts at AltaCorp Capital from a “sector perform” rating to an “underperform” rating.
  • 1/7/2019 – Imperial Oil had its “hold” rating reaffirmed by analysts at TD Securities. They now have a $37.00 price target on the stock.
  • 1/4/2019 – Imperial Oil was upgraded by analysts at Bank of America Corp from a “neutral” rating to a “buy” rating.
  • 12/24/2018 – Imperial Oil was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating.

Shares of Imperial Oil stock opened at $26.74 on Tuesday. Imperial Oil Ltd has a 12-month low of $24.29 and a 12-month high of $34.56.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last announced 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 company had revenue of $7.89 billion for the quarter, compared to the consensus estimate of $8.89 billion. During the same quarter in the prior year, the company earned ($0.16) EPS. The company’s revenue for the quarter was down 2.3% on a year-over-year basis.

A number of institutional investors and hedge funds have recently bought and sold shares of IMO. Atlas Capital Advisors LLC bought a new stake in Imperial Oil in the 4th quarter valued at $138,000. Quadrant Capital Group LLC raised its stake in Imperial Oil by 879.6% in the 4th quarter. Quadrant Capital Group LLC now owns 6,446 shares of the energy company’s stock valued at $157,000 after acquiring an additional 5,788 shares during the period. AlphaCrest Capital Management LLC bought a new stake in Imperial Oil in the 4th quarter valued at $220,000. Creative Planning raised its stake in Imperial Oil by 45.4% in the 4th quarter. Creative Planning now owns 9,134 shares of the energy company’s stock valued at $231,000 after acquiring an additional 2,852 shares during the period. Finally, Cidel Asset Management Inc. raised its stake in Imperial Oil by 7.1% in the 4th quarter. Cidel Asset Management Inc. now owns 10,100 shares of the energy company’s stock valued at $256,000 after acquiring an additional 667 shares during the period.

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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