Is Buying Imperial Oil Limited Here a Winning Strategy?

 Is Buying Imperial Oil Limited Here a Winning Strategy?

The stock of Imperial Oil Limited (TSE:IMO) hit a new 52-week high and has $48.20 target or 4.00% above today’s $46.35 share price. The 8 months bullish chart indicates low risk for the $39.08B company. The 1-year high was reported on Nov, 30 by Barchart.com. If the $48.20 price target is reached, the company will be worth $1.56 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 136,219 shares traded hands. Imperial Oil Limited (TSE:IMO) has risen 5.92% since April 26, 2016 and is uptrending. It has outperformed by 0.69% the S&P500.

Imperial Oil Limited (TSE:IMO) Ratings Coverage

Out of 5 analysts covering Imperial Oil Limited (TSE:IMO), 2 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 40% are positive. $60 is the highest target while $41 is the lowest. The $46.78 average target is 0.93% above today’s ($46.35) stock price. Imperial Oil Limited has been the topic of 18 analyst reports since July 21, 2015 according to StockzIntelligence Inc. TD Securities upgraded Imperial Oil Limited (TSE:IMO) rating on Thursday, November 3. TD Securities has “Buy” rating and $50 price target. The company was upgraded on Monday, October 24 by Credit Suisse. The company was maintained on Monday, June 6 by Raymond James. RBC Capital Markets maintained it with “Sector Perform” rating and $47 target price in Thursday, September 22 report. The rating was maintained by Desjardins Securities with “” on Tuesday, June 28. The firm has “Sector Outperformer” rating given on Friday, August 14 by IBC. RBC Capital Markets maintained the stock with “Sector Perform” rating in Wednesday, February 3 report. Scotia Capital maintained Imperial Oil Limited (TSE:IMO) on Thursday, September 22 with “Sector Perform” rating.

More notable recent Imperial Oil Limited (TSE:IMO) news were published by: Theglobeandmail.com which released: “Imperial Oil sells Esso gas stations for $2.8-billion” on March 08, 2016, also Business.Financialpost.com with their article: “Imperial Oil Ltd upgraded on strong free cash flow outlook” published on September 22, 2016, Business.Financialpost.com published: “Imperial Oil Ltd fourth quarter profit plunges 84% on low oil prices” on February 02, 2016. More interesting news about Imperial Oil Limited (TSE:IMO) were released by: Business.Financialpost.com and their article: “Why now is a good time to own Imperial Oil Ltd” published on April 25, 2016 as well as Fool.ca‘s news article titled: “This Analyst Thinks Imperial Oil Limited Has 60% Upside” with publication date: October 27, 2016.

Imperial Oil Ltd is a Canada-based integrated oil company. The company has a market cap of $39.08 billion. The Firm is engaged in the exploration for, and production and sale of, natural gas and crude oil. It has a 47.96 P/E ratio. The Company’s activities are conducted in three divisions: Upstream, Downstream and Chemical.

IMO.TO Company Profile

Imperial Oil Limited, incorporated on May 1, 1978, is an integrated oil company. The Firm is engaged in the exploration for, and production and sale of, natural gas and crude oil. The Company’s activities are conducted in three divisions: Upstream, Downstream and Chemical. Upstream activities include the exploration for, and production of, crude oil, natural gas, synthetic oil and bitumen. Downstream activities consist of the transportation and refining of crude oil, blending of refined products and the distribution and marketing of those products. Chemical activities consist of the manufacturing and marketing of various petrochemicals.

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