Imperial Oil (TSE:IMO) Upgraded at Canaccord Genuity

Canaccord Genuity upgraded shares of Imperial Oil (TSE:IMO) (NYSEMKT:IMO) from a hold rating to a buy rating in a report issued on Tuesday, October 16th. The firm currently has C$52.00 price target on the stock, up from their previous price target of C$50.00.

Several other analysts have also issued reports on IMO. Raymond James raised their price target on shares of Imperial Oil from C$39.00 to C$45.00 in a research report on Thursday, July 5th. Barclays upgraded shares of Imperial Oil from an underweight rating to an equal weight rating and raised their price target for the stock from C$40.00 to C$49.00 in a research report on Wednesday, July 11th. CSFB raised their price objective on shares of Imperial Oil from C$47.00 to C$54.00 in a report on Wednesday, July 11th. National Bank Financial raised their price objective on shares of Imperial Oil from C$40.00 to C$45.00 and gave the stock a c$43.73 rating in a report on Wednesday, July 18th. Finally, BMO Capital Markets raised their price objective on shares of Imperial Oil from C$42.00 to C$44.00 in a report on Monday, July 30th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average price target of C$46.73.

Shares of IMO traded down C$0.97 during mid-day trading on Tuesday, hitting C$40.88. 1,090,300 shares of the company’s stock were exchanged, compared to its average volume of 1,035,766. Imperial Oil has a twelve month low of C$33.43 and a twelve month high of C$44.91. The company has a debt-to-equity ratio of 21.86, a quick ratio of 0.83 and a current ratio of 1.23.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 1st. Shareholders of record on Monday, December 3rd will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.86%. The ex-dividend date is Friday, November 30th. Imperial Oil’s payout ratio is presently 61.73%.

In other Imperial Oil news, insider Jonathan Wetmore sold 614 shares of the firm’s stock in a transaction dated Tuesday, September 25th. The shares were sold at an average price of C$42.55, for a total value of C$26,125.70.

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 (TSE:IMO)

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