Imperial Oil (NYSEAMERICAN:IMO) Receives Sell Rating from Raymond James

Raymond James reaffirmed their sell rating on shares of Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) in a research note issued to investors on Wednesday, AnalystRatings.com reports. The brokerage currently has a $31.00 price target on the energy company’s stock.

A number of other research analysts also recently issued reports on the company. CIBC upgraded Imperial Oil to a hold rating and set a $38.00 price objective for the company in a research note on Friday, November 1st. GMP Securities downgraded Imperial Oil from a hold rating to a reduce rating in a research note on Monday, September 30th. Royal Bank of Canada set a $37.00 price objective on Imperial Oil and gave the company a hold rating in a research note on Friday, October 18th. Citigroup downgraded Imperial Oil from a neutral rating to a sell rating in a research note on Monday, October 7th. Finally, Goldman Sachs Group downgraded Imperial Oil from a buy rating to a neutral rating and upped their price objective for the company from $37.00 to $39.00 in a research note on Thursday, September 26th. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company’s stock. Imperial Oil currently has a consensus rating of Hold and an average target price of $35.29.

Shares of NYSEAMERICAN:IMO opened at $25.77 on Wednesday. Imperial Oil has a twelve month low of $23.66 and a twelve month high of $32.36.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last announced its quarterly earnings results on Friday, November 1st. The energy company reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.02). The company had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.69 billion.

Large investors have recently added to or reduced their stakes in the business. Mackenzie Financial Corp raised its holdings in shares of Imperial Oil by 25.7% in the 2nd quarter. Mackenzie Financial Corp now owns 1,947,123 shares of the energy company’s stock valued at $53,877,000 after acquiring an additional 397,681 shares in the last quarter. D. E. Shaw & Co. Inc. raised its holdings in shares of Imperial Oil by 12.2% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 488,325 shares of the energy company’s stock valued at $13,524,000 after buying an additional 53,156 shares in the last quarter. Man Group plc raised its holdings in shares of Imperial Oil by 66.4% during the 2nd quarter. Man Group plc now owns 246,367 shares of the energy company’s stock valued at $6,821,000 after buying an additional 98,297 shares in the last quarter. Scout Investments Inc. raised its holdings in shares of Imperial Oil by 6.4% during the 2nd quarter. Scout Investments Inc. now owns 95,208 shares of the energy company’s stock valued at $2,634,000 after buying an additional 5,741 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Imperial Oil by 74.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 943,982 shares of the energy company’s stock valued at $25,874,000 after buying an additional 403,439 shares in the last quarter.

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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