Imperial Oil (IMO) Gets a Hold Rating from CIBC

In a report released today, Dennis Fong from CIBC maintained a Hold rating on Imperial Oil (IMOResearch Report), with a price target of C$74.00. The company’s shares closed last Thursday at $56.18, close to its 52-week high of $57.89.

According to TipRanks.com, Fong is a 3-star analyst with an average return of 1.4% and a 43.6% success rate. Fong covers the Utilities sector, focusing on stocks such as Whitecap Resources, Canadian Natural, and Cenovus Energy.

The word on The Street in general, suggests a Hold analyst consensus rating for Imperial Oil with a $57.16 average price target.

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Based on Imperial Oil’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $12.18 billion and net profit of $1.17 billion. In comparison, last year the company earned revenue of $6.59 billion and had a net profit of $392 million.

Based on the recent corporate insider activity of 92 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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