TD Cowen Reaffirms Their Sell Rating on Imperial Oil (IMO)

In a report released today, Menno Hulshof from TD Cowen maintained a Sell rating on Imperial Oil, with a price target of C$106.00.

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According to TipRanks, Hulshof is a 3-star analyst with an average return of 3.9% and a 49.45% success rate. Hulshof covers the Energy sector, focusing on stocks such as Canadian Natural, Cenovus Energy, and Imperial Oil.

In addition to TD Cowen, Imperial Oil also received a Sell from Raymond James’s Michael Barth, CFA in a report issued on December 8. However, yesterday, BMO Capital downgraded Imperial Oil (NYSE MKT: IMO) to a Hold.

Based on Imperial Oil’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of C$11.63 billion and a net profit of C$539.76 million. In comparison, last year the company earned a revenue of C$13.22 billion and had a net profit of C$1.24 billion

Based on the recent corporate insider activity of 61 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.