Imperial Oil Ltd (IMO) Given New C$38.00 Price Target at J P Morgan Chase & Co
Imperial Oil Ltd (TSE:IMO) (NYSEMKT:IMO) had its price target increased by research analysts 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 would indicate a potential upside of 0.34% from the stock’s previous close.
IMO has been the subject of a number of other research reports. National Bank Financial dropped their target price on shares of Imperial Oil from C$40.00 to C$36.00 in a research report on Thursday, August 3rd. AltaCorp Capital lowered shares of Imperial Oil from a “sector perform” rating to an “underperform” rating in a research report on Wednesday, August 23rd. CIBC lowered shares of Imperial Oil from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from C$50.00 to C$45.00 in a research report on Wednesday, May 24th. Royal Bank Of Canada dropped their target price on shares of Imperial Oil from C$41.00 to C$40.00 and set a “sector perform” rating for the company in a research report on Friday, August 4th. Finally, TD Securities dropped their target price on shares of Imperial Oil from C$44.00 to C$43.00 and set a “hold” rating for the company in a research report on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. Imperial Oil has an average rating of “Hold” and a consensus target price of C$43.75.
Shares of Imperial Oil (TSE:IMO) traded down 0.29% during trading on Thursday, reaching $37.87. 1,012,934 shares of the company were exchanged. The company has a market capitalization of $31.97 billion and a price-to-earnings ratio of 11.91. Imperial Oil has a 1-year low of $35.15 and a 1-year high of $48.72. The stock’s 50 day moving average is $36.69 and its 200 day moving average is $38.74.
In other Imperial Oil news, insider Jonathan Wetmore sold 5,282 shares of the stock in a transaction 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 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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