Shares of Imperial Oil (TSE:IMO) (NYSEMKT:IMO) hit a new 52-week high during mid-day trading on Tuesday after Canaccord Genuity raised their price target on the stock from C$40.00 to C$45.00. The stock traded as high as C$42.52 and last traded at C$41.94, with a volume of 414593 shares changing hands. The stock had previously closed at C$42.27.
Several other analysts also recently issued reports on the stock. Royal Bank of Canada raised shares of Imperial Oil from an “underperform” rating to a “sector perform” rating and increased their price objective for the company from C$40.00 to C$41.00 in a research report on Wednesday, January 31st. AltaCorp Capital raised shares of Imperial Oil from an “underperform” rating to a “sector perform” rating in a research report on Monday, January 15th. Raymond James downgraded shares of Imperial Oil from a “market perform” rating to an “underperform” rating and lowered their price objective for the company from C$40.00 to C$38.00 in a research report on Tuesday, April 24th. CSFB increased their price objective on shares of Imperial Oil from C$45.00 to C$47.00 in a research report on Friday, April 13th. Finally, Barclays increased their price objective on shares of Imperial Oil from C$38.00 to C$40.00 in a research report on Monday, April 30th. Four investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of C$41.64.
Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last released its earnings results on Friday, April 27th. The company reported C$0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.49 by C$0.13. The business had revenue of C$7.93 billion for the quarter, compared to analysts’ expectations of C$7.60 billion.
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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