Imperial Oil (IMO) Gets a Buy Rating from RBC Capital

RBC Capital analyst Gregory Pardy maintained a Buy rating on Imperial Oil (IMOResearch Report) yesterday and set a price target of C$65.00. The company’s shares closed last Tuesday at $43.78, close to its 52-week high of $45.33.

According to, Pardy is a 5-star analyst with an average return of 24.3% and a 58.8% success rate. Pardy covers the Utilities sector, focusing on stocks such as Canadian Natural, Vermilion Energy, and Cenovus Energy.

Currently, the analyst consensus on Imperial Oil is a Moderate Buy with an average price target of $45.28, which is a 4.1% upside from current levels. In a report issued on February 10, Goldman Sachs also upgraded the stock to Buy with a C$63.00 price target.

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Based on Imperial Oil’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $11.79 billion and net profit of $813 million. In comparison, last year the company earned revenue of $5.57 billion and had a GAAP net loss of $1.15 billion.

Based on the recent corporate insider activity of 128 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of IMO in relation to earlier this year.

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Imperial Oil Ltd. engages in the provision of integrated oil business. It operates through the following business segments: Upstream, Downstream, Chemical and Corporate and Other. The Upstream segment includes the exploration and production of crude oil, natural gas, synthetic oil, and bitumen. The Downstream segment focuses on refining crude oil into petroleum products. The Chemical segment manufactures and markets hydrocarbon-based chemicals and chemical products. The Corporate and Other segment covers assets and liabilities that do not specifically relate to business segments. The company was founded on September 8, 1880 and is headquartered in Calgary, Canada.

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