Imperial Oil (IMO) Upgraded at Tudor Pickering
Tudor Pickering upgraded shares of Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) from a hold rating to a buy rating in a research note released on Thursday morning, Marketbeat reports.
Other research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Imperial Oil from a hold rating to a buy rating and set a $38.00 price target on the stock in a research report on Tuesday, October 9th. CIBC assumed coverage on shares of Imperial Oil in a research report on Friday, October 5th. They set a sector underperform rating on the stock. Barclays raised shares of Imperial Oil from an underweight rating to an equal weight rating in a research report on Wednesday, July 11th. Finally, TheStreet raised shares of Imperial Oil from a c rating to a b- rating in a research report on Friday, October 5th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Imperial Oil currently has an average rating of Hold and an average target price of $43.60.
Shares of IMO stock opened at $32.80 on Thursday. Imperial Oil has a twelve month low of $25.91 and a twelve month high of $34.29.
A number of institutional investors and hedge funds have recently modified their holdings of IMO. US Bancorp DE increased its stake in Imperial Oil by 20.0% during the second quarter. US Bancorp DE now owns 10,781 shares of the energy company’s stock worth $358,000 after purchasing an additional 1,794 shares during the period. Burney Co. increased its stake in Imperial Oil by 13.0% during the second quarter. Burney Co. now owns 26,084 shares of the energy company’s stock worth $868,000 after purchasing an additional 3,004 shares during the period. Wolverine Asset Management LLC purchased a new stake in Imperial Oil during the second quarter worth about $166,000. Tower Research Capital LLC TRC increased its stake in Imperial Oil by 260.9% during the second quarter. Tower Research Capital LLC TRC now owns 8,383 shares of the energy company’s stock worth $279,000 after purchasing an additional 6,060 shares during the period. Finally, Creative Planning purchased a new stake in Imperial Oil during the second quarter worth about $209,000.
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, 2017, this segment had 450 million oil-equivalent barrels of proved undeveloped reserves.
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