Imperial Oil (IMO) Upgraded at Credit Suisse Group
Credit Suisse Group upgraded shares of Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) from an underperform rating to a neutral rating in a research report released on Thursday morning, The Fly reports.
Several other analysts have also recently weighed in on IMO. AltaCorp Capital cut shares of Imperial Oil from a sector perform rating to an underperform rating in a report on Monday, January 7th. Zacks Investment Research cut shares of Imperial Oil from a buy rating to a hold rating in a report on Thursday, November 29th. Morgan Stanley set a $42.00 price objective on shares of Imperial Oil and gave the stock a hold rating in a report on Tuesday, January 29th. GMP Securities cut shares of Imperial Oil from a buy rating to a hold rating in a report on Thursday, December 13th. Finally, Desjardins reissued a hold rating and set a $38.00 price objective on shares of Imperial Oil in a report on Tuesday, February 5th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. Imperial Oil currently has a consensus rating of Hold and a consensus price target of $38.15.
Shares of NYSEAMERICAN IMO traded down $0.08 during midday trading on Thursday, hitting $27.54. The company’s stock had a trading volume of 12,200 shares, compared to its average volume of 369,264. Imperial Oil has a 1 year low of $24.29 and a 1 year high of $34.56.
Several institutional investors have recently made changes to their positions in IMO. Canada Pension Plan Investment Board grew its position in Imperial Oil by 239.6% in the 4th quarter. Canada Pension Plan Investment Board now owns 204,110 shares of the energy company’s stock valued at $5,169,000 after buying an additional 144,000 shares during the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of Imperial Oil by 11.5% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 38,033 shares of the energy company’s stock worth $1,231,000 after purchasing an additional 3,933 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Imperial Oil by 554.5% during the 3rd quarter. Jane Street Group LLC now owns 95,632 shares of the energy company’s stock worth $3,095,000 after purchasing an additional 81,021 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Imperial Oil by 879.6% during the 4th quarter. Quadrant Capital Group LLC now owns 6,446 shares of the energy company’s stock worth $157,000 after purchasing an additional 5,788 shares in the last quarter. Finally, Jefferies Group LLC purchased a new stake in shares of Imperial Oil during the 3rd quarter worth $1,405,000.
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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