Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) was upgraded by equities research analysts at Tudor Pickering from a “hold” rating to a “buy” rating in a research report issued on Thursday, The Fly reports.

Several other equities analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Imperial Oil from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Tuesday. TheStreet upgraded shares of Imperial Oil from a “c” rating to a “b-” rating in a research note on Friday, October 5th. CIBC began coverage on shares of Imperial Oil in a research report on Friday, October 5th. They set a “sector underperform” rating for the company. Finally, Barclays upgraded shares of Imperial Oil from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, July 11th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. Imperial Oil presently has a consensus rating of “Hold” and a consensus price target of $43.60.

IMO stock opened at $32.85 on Thursday. 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 quarterly earnings data on Friday, July 27th. The energy company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.26). The business had revenue of $9.54 billion during the quarter, compared to analysts’ expectations of $9 billion. Imperial Oil had a negative net margin of 1.70% and a negative return on equity of 2.22%. The firm’s revenue was up 35.7% on a year-over-year basis. During the same period last year, the company earned ($0.09) earnings per share.

Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in Imperial Oil by 100.3% during the first quarter. JPMorgan Chase & Co. now owns 239,899 shares of the energy company’s stock worth $6,356,000 after buying an additional 120,150 shares during the period. Dimensional Fund Advisors LP boosted its stake in Imperial Oil by 14.4% during the first quarter. Dimensional Fund Advisors LP now owns 804,311 shares of the energy company’s stock worth $21,314,000 after buying an additional 101,055 shares during the period. UBS Group AG boosted its stake in Imperial Oil by 101.1% during the first quarter. UBS Group AG now owns 295,832 shares of the energy company’s stock worth $7,839,000 after buying an additional 148,690 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Imperial Oil by 2.6% during the first quarter. The Manufacturers Life Insurance Company now owns 1,965,101 shares of the energy company’s stock worth $52,076,000 after buying an additional 50,624 shares during the period. Finally, Element Capital Management LLC purchased a new position in Imperial Oil during the first quarter worth about $288,000.

Imperial Oil Company Profile

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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