Citigroup Raises Imperial Oil (IMO) Price Target to C$43.00

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Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its price objective upped by Citigroup from C$35.00 to C$43.00 in a research note issued to investors on Wednesday morning.

A number of other research analysts also recently commented on the company. Raymond James increased their price target on Imperial Oil from C$38.00 to C$39.00 in a report on Tuesday. National Bank Financial increased their price target on Imperial Oil from C$38.00 to C$40.00 and gave the company a sector perform rating in a report on Friday, May 4th. CSFB increased their price target on Imperial Oil from C$45.00 to C$47.00 in a report on Friday, April 13th. Canaccord Genuity increased their price target on Imperial Oil from C$40.00 to C$45.00 in a report on Monday, May 14th. Finally, Morgan Stanley raised Imperial Oil from an underweight rating to an equal weight rating and increased their price target for the company from C$39.00 to C$42.00 in a report on Monday, April 30th. Four research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Imperial Oil presently has an average rating of Hold and a consensus price target of C$41.55.

IMO stock opened at C$40.98 on Wednesday. Imperial Oil has a 1 year low of C$33.43 and a 1 year high of C$42.86.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last posted its earnings results on Friday, April 27th. The company reported C$0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.49 by C$0.13. The company had revenue of C$7.93 billion during the quarter, compared to analyst estimates of C$7.60 billion.

The company also recently announced a quarterly dividend, which will be paid on Sunday, July 1st. Shareholders of record on Friday, June 1st will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Thursday, May 31st. This is an increase from Imperial Oil’s previous quarterly dividend of $0.16.

About Imperial Oil

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.

Analyst Recommendations for Imperial Oil (TSE:IMO)

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