Imperial Oil (IMO), the Materials sector company was revisited on November 14, and remains undervalued for at least one analyst on the street. Analyst Michael Dunn from GMP FirstEnergy rated Imperial Oil (IMO) a Buy on November 14, setting a C$49 price target.
According to TipRanks.com, Dunn is ranked 0 out of 5 stars with an average return of -13.0% and a 27.4% success rate. Dunn covers the Basic Materials sector, focusing on stocks such as BlackPearl Resources Inc, Birchcliff Energy Ltd, and Imperial Oil Limited.
Imperial Oil has an analyst consensus of Moderate Buy, with a price target consensus of C$48.50, a 15.5% upside from current levels. In a report issued on November 12, Barclays also upgraded the stock to Buy with a C$54 price target.
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Based on Imperial Oil’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of C$9.27 billion and net profit of C$749 million. In comparison, last year the company earned revenue of C$6.7 billion and had a net profit of C$371 million.
Imperial Oil Ltd. engages in the provision of integrated oil business. It operates through the following segment: Upstream, Downstream, and Chemical. The Upstream segment includes the exploration and production of crude oil and its equivalent, and natural gas. The Downstream segment operations consists of the refining of crude oil into petroleum products.
The company’s shares closed on Friday at C$41.98.
