Morgan Stanley Lowers Imperial Oil (NYSEAMERICAN:IMO) Price Target to $38.00

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) had its target price reduced by equities research analysts at Morgan Stanley from $39.00 to $38.00 in a research note issued on Wednesday, BayStreet.CA reports. Morgan Stanley’s target price indicates a potential upside of 50.85% from the company’s previous close.

IMO has been the topic of a number of other reports. Goldman Sachs Group lowered Imperial Oil from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $37.00 to $39.00 in a research note on Thursday, September 26th. TheStreet lowered Imperial Oil from a “b-” rating to a “c+” rating in a research note on Friday, August 23rd. Zacks Investment Research lowered Imperial Oil from a “hold” rating to a “strong sell” rating and set a $27.00 price target on the stock. in a research note on Wednesday, August 7th. GMP Securities lowered Imperial Oil from a “hold” rating to a “reduce” rating in a research note on Monday, September 30th. Finally, Royal Bank of Canada set a $37.00 price target on Imperial Oil and gave the company a “hold” rating in a research note on Friday, October 18th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $37.81.

Imperial Oil stock opened at $25.19 on Wednesday. Imperial Oil has a one year low of $23.66 and a one year high of $33.53.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last posted its quarterly earnings data on Friday, August 2nd. The energy company reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.06. The company had revenue of $6.92 billion during the quarter, compared to analyst estimates of $6.66 billion. During the same period in the prior year, the firm earned $0.24 earnings per share.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Amundi Pioneer Asset Management Inc. raised its position in shares of Imperial Oil by 11.8% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 175,652 shares of the energy company’s stock worth $4,808,000 after purchasing an additional 18,553 shares during the period. Scout Investments Inc. grew its holdings in Imperial Oil by 6.4% during the second quarter. Scout Investments Inc. now owns 95,208 shares of the energy company’s stock worth $2,634,000 after buying an additional 5,741 shares in the last quarter. Addenda Capital Inc. bought a new stake in Imperial Oil during the second quarter worth $241,000. American Research & Management Co. grew its holdings in Imperial Oil by 15.1% during the second quarter. American Research & Management Co. now owns 54,657 shares of the energy company’s stock worth $1,514,000 after buying an additional 7,176 shares in the last quarter. Finally, USS Investment Management Ltd bought a new stake in Imperial Oil during the second quarter worth $25,965,000.

Imperial Oil Company Profile

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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Analyst Recommendations for Imperial Oil (NYSEAMERICAN:IMO)

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