Barclays upgraded shares of Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) from an equal weight rating to an overweight rating in a research note published on Monday, MarketBeat.com reports.

A number of other brokerages have also recently commented on IMO. TheStreet cut Imperial Oil from a b- rating to a c rating in a research report on Monday, September 17th. Goldman Sachs Group upgraded Imperial Oil from a sell rating to a buy rating in a research report on Friday, October 19th. CIBC began coverage on Imperial Oil in a research report on Friday, October 5th. They issued a sector underperform rating for the company. Tudor Pickering upgraded Imperial Oil from a hold rating to a buy rating in a research report on Thursday, October 11th. Finally, Zacks Investment Research upgraded Imperial Oil from a hold rating to a buy rating and set a $38.00 price target for the company in a research report on Tuesday, October 9th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $45.25.

Imperial Oil stock opened at $31.87 on Monday. Imperial Oil has a one year low of $25.91 and a one year high of $34.56.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last posted its quarterly earnings data on Friday, November 2nd. The energy company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates 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. The firm’s revenue was up 36.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 EPS.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IMO. Point72 Asset Management L.P. boosted its stake in shares of Imperial Oil by 827.0% in the third quarter. Point72 Asset Management L.P. now owns 1,436,918 shares of the energy company’s stock worth $46,482,000 after acquiring an additional 1,281,918 shares during the period. Cumberland Partners Ltd boosted its stake in Imperial Oil by 5,920.8% during the second quarter. Cumberland Partners Ltd now owns 840,504 shares of the energy company’s stock valued at $27,944,000 after buying an additional 826,544 shares during the last quarter. Toronto Dominion Bank boosted its stake in Imperial Oil by 78.8% during the second quarter. Toronto Dominion Bank now owns 1,558,572 shares of the energy company’s stock valued at $52,534,000 after buying an additional 686,675 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Imperial Oil by 69.2% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,372,800 shares of the energy company’s stock valued at $45,605,000 after buying an additional 561,400 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in Imperial Oil by 58.8% during the third quarter. Deutsche Bank AG now owns 813,153 shares of the energy company’s stock valued at $26,318,000 after buying an additional 301,032 shares during the last quarter.

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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Analyst Recommendations for Imperial Oil (NYSEAMERICAN:IMO)

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