Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) was upgraded by investment analysts at GMP Securities from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, The Fly reports.

A number of other research firms have also recently weighed in on IMO. Zacks Investment Research upgraded shares of Imperial Oil from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Tuesday, October 9th. TheStreet upgraded shares of Imperial Oil from a “c” rating to a “b-” rating in a research note on Friday, October 5th. CIBC assumed coverage on shares of Imperial Oil in a research note on Friday, October 5th. They issued a “sector underperform” rating on the stock. Barclays upgraded shares of Imperial Oil from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, July 11th. Finally, Canaccord Genuity upgraded shares of Imperial Oil from a “hold” rating to a “buy” rating in a research note on Tuesday, October 16th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $45.25.

Imperial Oil stock opened at $31.05 on Thursday. Imperial Oil has a fifty-two week low of $25.91 and a fifty-two week high of $34.56.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last released its quarterly earnings results on Friday, November 2nd. The energy company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. The firm had revenue of $9.73 billion for the quarter, compared to analysts’ expectations of $10.67 billion. During the same quarter last year, the firm posted $0.44 earnings per share. The firm’s revenue for the quarter was up 36.0% compared to the same quarter last year.

Hedge funds have recently made changes to their positions in the stock. Wolverine Asset Management LLC purchased a new stake in shares of Imperial Oil during the 2nd quarter valued at approximately $166,000. Creative Planning purchased a new stake in shares of Imperial Oil during the 2nd quarter valued at approximately $209,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Imperial Oil during the 2nd quarter valued at approximately $229,000. Fruth Investment Management purchased a new stake in shares of Imperial Oil during the 3rd quarter valued at approximately $246,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Imperial Oil by 260.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,383 shares of the energy company’s stock valued at $279,000 after buying an additional 6,060 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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