Upgrading to Market Perform. No change to $38.00/share target price. 1Q16 results were highlighted by relatively strong operating performance and low bitumen prices. 2Q16 estimates have been reduced due to curtailed production caused by forest fires. The dividend was raised for the 21st straight year. IMO now has two regulatory applications filed for SA-SAGD projects with a combined capacity of over 215 mbbl/d and a combined capital intensity under $30,000 per bbl/d. Based on historical forward ....
16 May 2016
1Q16 Update
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1Q16 Update
Imperial Oil Limited (IMO:TSE) | 0 0 (-1.4%) | Mkt Cap: 28,420m
- Published:
16 May 2016 -
Author:
Michael P. Dunn -
Pages:
11
Upgrading to Market Perform. No change to $38.00/share target price. 1Q16 results were highlighted by relatively strong operating performance and low bitumen prices. 2Q16 estimates have been reduced due to curtailed production caused by forest fires. The dividend was raised for the 21st straight year. IMO now has two regulatory applications filed for SA-SAGD projects with a combined capacity of over 215 mbbl/d and a combined capital intensity under $30,000 per bbl/d. Based on historical forward ....