Canaccord Genuity Reaffirms “Hold” Rating for Imperial Oil Ltd (IMO)

Canaccord Genuity reaffirmed their hold rating on shares of Imperial Oil Ltd (NYSEMKT:IMO) (TSE:IMO) in a research report sent to investors on Thursday morning. Canaccord Genuity currently has a $45.00 target price on the energy company’s stock.

Other equities research analysts have also issued research reports about the company. Barclays PLC lowered Imperial Oil from an overweight rating to an underweight rating in a research report on Thursday. Royal Bank Of Canada lowered Imperial Oil from a sector perform rating to an underperform rating in a research report on Thursday. TheStreet raised Imperial Oil from a c rating to a b- rating in a research report on Friday, October 27th. Morgan Stanley raised their price target on Imperial Oil from $36.00 to $42.00 and gave the stock an underweight rating in a research report on Friday, October 13th. Finally, BidaskClub lowered Imperial Oil from a buy rating to a hold rating in a research report on Saturday, October 7th. Eight equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. The company presently has an average rating of Hold and a consensus price target of $41.25.

Imperial Oil (NYSEMKT IMO) opened at $31.22 on Thursday. Imperial Oil has a 1-year low of $27.59 and a 1-year high of $36.85.

Imperial Oil (NYSEMKT:IMO) (TSE:IMO) last issued its earnings results on Friday, October 27th. The energy company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.03). Imperial Oil had a return on equity of 5.95% and a net margin of 5.19%. The company had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $6.58 billion. During the same quarter last year, the business posted $1.18 EPS.

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The company also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 1st will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Thursday, November 30th.

A number of institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its position in Imperial Oil by 0.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 33,488 shares of the energy company’s stock valued at $977,000 after buying an additional 152 shares during the last quarter. JPMorgan Chase & Co. raised its position in Imperial Oil by 0.4% in the 1st quarter. JPMorgan Chase & Co. now owns 110,053 shares of the energy company’s stock valued at $3,355,000 after buying an additional 447 shares during the last quarter. Davis Rea Ltd. raised its position in Imperial Oil by 0.6% in the 2nd quarter. Davis Rea Ltd. now owns 113,799 shares of the energy company’s stock valued at $3,327,000 after buying an additional 626 shares during the last quarter. Virtu KCG Holdings LLC raised its position in Imperial Oil by 9.7% in the 2nd quarter. Virtu KCG Holdings LLC now owns 9,207 shares of the energy company’s stock valued at $268,000 after buying an additional 817 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Imperial Oil by 12.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,222 shares of the energy company’s stock valued at $241,000 after buying an additional 900 shares during the last quarter.

Imperial Oil Company Profile

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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