Imperial Oil Ltd (IMO) Price Target Raised to C$38.00 at J P Morgan Chase & Co
Imperial Oil Ltd (TSE:IMO) (NYSEMKT:IMO) had its price target raised by equities researchers at J P Morgan Chase & Co from C$36.00 to C$38.00 in a research note issued on Thursday. The brokerage presently has an “underweight” rating on the stock. J P Morgan Chase & Co’s price target indicates a potential upside of 0.05% from the stock’s current price.
A number of other brokerages have also recently commented on IMO. CIBC cut Imperial Oil from an “outperform” rating to a “neutral” rating and lowered their price target for the company from C$50.00 to C$45.00 in a research note on Wednesday, May 24th. National Bank Financial reaffirmed a “sector perform” rating on shares of Imperial Oil in a research note on Monday, June 26th. TD Securities lowered their price target on Imperial Oil from C$44.00 to C$43.00 and set a “hold” rating for the company in a research note on Thursday, August 3rd. Royal Bank Of Canada lowered their price target on Imperial Oil from C$41.00 to C$40.00 and set a “sector perform” rating for the company in a research note on Friday, August 4th. Finally, AltaCorp Capital cut Imperial Oil from a “sector perform” rating to an “underperform” rating in a research note on Wednesday, August 23rd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of C$43.75.
Shares of Imperial Oil (TSE IMO) traded down 0.87% on Thursday, hitting $37.65. 476,798 shares of the company’s stock traded hands. Imperial Oil has a 1-year low of $35.15 and a 1-year high of $48.72. The company has a market cap of $31.79 billion and a price-to-earnings ratio of 11.84. The firm’s 50-day moving average price is $36.69 and its 200 day moving average price is $38.74.
In related news, insider Jonathan Wetmore sold 5,282 shares of the business’s stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of C$36.68, for a total value of C$193,743.76.
About Imperial Oil
Imperial Oil Limited is an integrated oil company. The Company is engaged in all the phases of the petroleum industry in Canada, including exploration for, and production and sale of, crude oil and natural gas. Its operations are conducted in three segments: Upstream, Downstream and Chemical. The Upstream operations include the exploration for, and production of, crude oil, natural gas, synthetic oil and bitumen.
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