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Imperial Oil (IMO) Receives a Hold from BMO Capital


Today, an analyst has provided a rating update for the Materials sector company, Imperial Oil (IMO). Analyst Randy Ollenberger from BMO Capital reiterated a Hold rating, with a C$48 price target.

According to TipRanks.com, Ollenberger is a 1-star analyst with an average return of -0.6% and a 45.3% success rate. Ollenberger covers the Basic Materials sector, focusing on stocks such as Birchcliff Energy Ltd, Imperial Oil Limited, and Baytex Energy Corp.

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Currently, the analyst consensus on Imperial Oil is a Hold with an average price target of C$48.40, implying a 16.2% upside from current levels. In a report issued on November 5, Barclays also maintained a Hold rating on the stock with a C$52 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$9.73 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 Thursday at C$41.65.