AltaCorp Capital Lowers Imperial Oil Ltd (IMO) to Underperform
Imperial Oil Ltd (TSE:IMO) (NYSEMKT:IMO) was downgraded by research analysts at AltaCorp Capital from a “sector perform” rating to an “underperform” rating in a note issued to investors on Wednesday.
IMO has been the subject of a number of other research reports. Royal Bank Of Canada decreased their price objective on shares of Imperial Oil from C$41.00 to C$40.00 and set a “sector perform” rating for the company in a report on Friday, August 4th. TD Securities decreased their price objective on shares of Imperial Oil from C$44.00 to C$43.00 and set a “hold” rating for the company in a report on Thursday, August 3rd. National Bank Financial decreased their price objective on shares of Imperial Oil from C$40.00 to C$36.00 in a report on Thursday, August 3rd. CIBC lowered shares of Imperial Oil from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from C$50.00 to C$45.00 in a report on Wednesday, May 24th. Finally, Scotiabank reiterated a “sector perform” rating and set a C$49.00 price objective on shares of Imperial Oil in a report on Monday, May 1st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of C$44.33.
Imperial Oil (TSE IMO) opened at 36.29 on Wednesday. Imperial Oil has a 12 month low of $35.15 and a 12 month high of $48.72. The company’s 50-day moving average price is $36.61 and its 200 day moving average price is $39.28. The company has a market capitalization of $30.64 billion and a price-to-earnings ratio of 11.41.
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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 shares were sold at an average price of C$36.68, for a total transaction of C$193,743.76.
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, 2016, the Upstream segment had 319 million oil-equivalent barrels of proved undeveloped reserves.
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