Imperial Oil (IMO) Given “Sell” Rating at CIBC
Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO)‘s stock had its “sell” rating reissued by investment analysts at CIBC in a research report issued to clients and investors on Thursday.
Several other research analysts have also recently weighed in on the stock. TheStreet cut shares of Imperial Oil from a “b-” rating to a “c” rating in a report on Monday, September 17th. Tudor Pickering raised shares of Imperial Oil from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. Goldman Sachs Group raised shares of Imperial Oil from a “sell” rating to a “buy” rating in a report on Friday, October 19th. Zacks Investment Research raised shares of Imperial Oil from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a report on Tuesday, October 9th. Finally, Canaccord Genuity raised shares of Imperial Oil from a “hold” rating to a “buy” rating in a report on Tuesday, October 16th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. Imperial Oil currently has an average rating of “Hold” and an average target price of $45.25.
Imperial Oil stock opened at $31.05 on Thursday. Imperial Oil has a twelve month low of $25.91 and a twelve month high of $34.56.
Institutional investors and hedge funds have recently made changes to their positions in the company. Wolverine Asset Management LLC bought a new position in shares of Imperial Oil during the second quarter worth approximately $166,000. Creative Planning bought a new position in Imperial Oil in the second quarter valued at approximately $209,000. Oppenheimer & Co. Inc. bought a new position in Imperial Oil in the second quarter valued at approximately $229,000. Fruth Investment Management bought a new position in Imperial Oil in the third quarter valued at approximately $246,000. Finally, Suntrust Banks Inc. bought a new position in Imperial Oil in the first quarter valued at approximately $277,000.
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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