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Imperial Oil (IMO) Looks Good: Stock Adds 7.3% in Session

Zacks Equity Research

Imperial Oil Limited IMO was a big mover last session, as the company saw its shares rise nearly 7% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This reverses the recent trend for the company—as the stock is down 48.6% in the past one-month time frame.

The stock gained after the company announced plans to reduce spending by $1 billion in full-year 2020 as a result of economic impact from the novel coronavirus.

The company has seen no estimate revisions over the past few weeks, while the Zacks Consensus Estimate for the current quarter has remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Imperial Oil currently has a Zacks Rank #2 (Buy) while its Earnings ESP is 0.00%.

Imperial Oil Limited Price

Imperial Oil Limited Price

Imperial Oil Limited price | Imperial Oil Limited Quote

Another stock worth considering in the Oils-Energy sector is Antero Resources Corporation AR, which currently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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