Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) released its quarterly earnings results on Friday, November 2nd. The energy company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08, Morningstar.com reports. The firm had revenue of $9.73 billion for the quarter, compared to the consensus estimate of $10.67 billion. During the same period in the previous year, the business earned $0.44 earnings per share. The firm’s revenue for the quarter was up 36.0% on a year-over-year basis.
Imperial Oil stock traded down $0.68 during mid-day trading on Friday, reaching $31.05. 249,022 shares of the company traded hands, compared to its average volume of 340,618. Imperial Oil has a 52-week low of $25.91 and a 52-week high of $34.56.
IMO has been the topic of several research reports. TD Securities reaffirmed a “hold” rating on shares of Imperial Oil in a research report on Thursday. Royal Bank of Canada reaffirmed a “hold” rating on shares of Imperial Oil in a research report on Thursday. CIBC reiterated a “sell” rating on shares of Imperial Oil in a research note on Thursday. BMO Capital Markets reiterated an “average” rating and issued a $48.00 target price on shares of Imperial Oil in a research note on Thursday. Finally, TheStreet upgraded shares of Imperial Oil from a “c” rating to a “b-” rating in a research note on Friday, October 5th. Three analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. Imperial Oil has a consensus rating of “Hold” and an average price target of $45.25.
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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