Bank of America Initiates Coverage on Imperial Oil Limited (USA) to Underperform

Bank of America Initiates Coverage on Imperial Oil Limited (USA)(NYSEMKT:IMO). The shares have been rated Underperform. The rating by Bank of America was issued on Aug 19, 2016.

Imperial Oil Limited (USA) (IMO) shares turned negative on Mondays trading session with the shares closing down -0.07 points or -0.23% at a volume of 1,50,070. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $31.07. The peak price level was also seen at $31.07 while the days lowest was $30.69. Finally the shares closed at $30.75. The 52-week high of the shares is $35.49 while the 52-week low is $25.55. According to the latest information available, the market cap of the company is $26,064 M.

Imperial Oil Limited (USA)(IMO) last announced its earnings results on Jul 29, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $4.87B. Analysts had an estimated revenue of $5.81B. Earnings per share were $-0.01. Analysts had estimated an EPS of $0.05.

Imperial Oil Limited is an integrated oil company. The Company is engaged in the exploration for and production and sale of crude oil and natural gas. The Company’s operations are conducted in three main segments: Upstream Downstream and Chemical. Upstream operations include the exploration for and production of crude oil natural gas synthetic oil and bitumen. Downstream operations consist of the transportation and refining of crude oil blending of refined products and the distribution and marketing of those products. Chemical operations consist of the manufacturing and marketing of various petrochemicals. The Company’s Chemical operations manufacture and market ethylene benzene aromatic and aliphatic solvents plasticizer intermediates and polyethylene resin.

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