Imperial Oil Ltd (NYSEMKT:IMO) (TSE:IMO) had its price objective hoisted by analysts at Morgan Stanley from $36.00 to $42.00 in a research note issued on Friday. The brokerage currently has an “underweight” rating on the energy company’s stock. Morgan Stanley’s target price would indicate a potential upside of 35.18% from the stock’s previous close.

Several other research analysts have also recently weighed in on IMO. National Bank Financial initiated coverage on Imperial Oil in a research note on Tuesday, June 27th. They set a “sector perform” rating for the company. UBS AG cut Imperial Oil from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 5th. Raymond James Financial, Inc. cut Imperial Oil from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 5th. Barclays PLC raised Imperial Oil from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 11th. Finally, Zacks Investment Research lowered Imperial Oil from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Six investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $45.50.

Shares of Imperial Oil (NYSEMKT IMO) traded up 1.22% during midday trading on Friday, hitting $31.45. 37,812 shares of the company’s stock traded hands. The company has a 50 day moving average of $30.98 and a 200 day moving average of $29.66. Imperial Oil has a 52 week low of $27.59 and a 52 week high of $36.85. The stock has a market cap of $26.55 billion, a P/E ratio of 12.02 and a beta of 1.14.

Imperial Oil (NYSEMKT:IMO) (TSE:IMO) last announced its earnings results on Friday, July 28th. The energy company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.30). Imperial Oil had a negative net margin of 1.10% and a negative return on equity of 1.23%. The firm had revenue of $7.03 billion for the quarter, compared to the consensus estimate of $8.40 billion. During the same period in the prior year, the business earned ($0.21) EPS. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, equities analysts forecast that Imperial Oil will post $0.92 EPS for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in IMO. Artisan Partners Limited Partnership raised its stake in shares of Imperial Oil by 24.9% during the 2nd quarter. Artisan Partners Limited Partnership now owns 21,292,920 shares of the energy company’s stock worth $620,660,000 after purchasing an additional 4,243,469 shares in the last quarter. First Eagle Investment Management LLC raised its stake in shares of Imperial Oil by 9.8% during the 2nd quarter. First Eagle Investment Management LLC now owns 9,319,242 shares of the energy company’s stock worth $271,727,000 after purchasing an additional 831,439 shares in the last quarter. TD Asset Management Inc. raised its stake in shares of Imperial Oil by 10.2% during the 2nd quarter. TD Asset Management Inc. now owns 8,573,953 shares of the energy company’s stock worth $249,559,000 after purchasing an additional 794,733 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Imperial Oil by 4.6% during the 2nd quarter. American Century Companies Inc. now owns 10,464,468 shares of the energy company’s stock worth $305,029,000 after purchasing an additional 455,688 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of Imperial Oil by 172.2% during the 1st quarter. Morgan Stanley now owns 635,896 shares of the energy company’s stock worth $19,394,000 after purchasing an additional 402,289 shares in 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.

Analyst Recommendations for Imperial Oil (NYSEMKT:IMO)

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