Cenovus, Canadian Natural, Imperial, MEG, Suncor form zero-emissions alliance » 06:5606/0906/09/21
CVE, CNQ, IMO, MEGEF, SU
Canadian Natural Resources (CNQ), Cenovus Energy (CVE), Imperial (IMO), MEG Energy (MEGEF) and Suncor Energy (SU) announced the Oil Sands Pathways to Net Zero initiative. These companies operate approximately 90% of Canada's oil sands production. The goal of this alliance, working with the federal and Alberta governments, is to achieve net zero greenhouse gas emissions from oil sands operations by 2050 to help Canada meet its climate goals, including its Paris Agreement commitments and 2050 net zero aspirations. This follows announcements from the Governments of Canada and Alberta of support programs for emissions- reduction projects and infrastructure. The Pathways vision is anchored by a Carbon Capture, Utilization and Storage trunkline connected to a carbon sequestration hub to enable multi-sector 'tie-in' projects for expanded emissions reductions. The initiative incorporates a number of parallel pathways to address GHG emissions, including: a core Alberta infrastructure corridor linking oil sands facilities in the Fort McMurray and Cold Lake regions to a carbon sequestration hub near Cold Lake via a CO2 trunkline; deploying existing and emerging GHG reduction technologies at oil sands operations along the corridor; evaluating, piloting and accelerating application of potential emerging emissions-reducing technologies including direct air capture, next-generation recovery technologies and small modular nuclear reactors.
|Over a week ago|
Goldman Sachs to hold a virtual symposium » 11:2806/0206/02/21
CVE, IMO, MEGEF, OVV, SPGYF, SU
2nd Canada Energy Virtual…
2nd Canada Energy Virtual Symposium to be held on June 2. Webcast Link
Imperial Oil price target raised to C$45 from C$40 at Credit Suisse » 10:3906/0206/02/21
Credit Suisse analyst…
Credit Suisse analyst Manav Gupta raised the firm's price target on Imperial Oil to C$45 from C$40 and keeps a Neutral rating on the shares.
|Over a month ago|
Imperial Oil downgraded to Neutral from Buy at Goldman Sachs » 04:5805/1205/12/21
IMO, SU, CVE
Goldman Sachs analyst…
Goldman Sachs analyst Neil Mehta downgraded Imperial Oil (IMO) to Neutral from Buy with an unchanged price target of C$39. The analyst cites valuation for the downgrade following the recent outperformance of the shares. Imperial's operational and cost turnaround story at Kearl and improving downstream fundamentals are now better reflected in the share price, Choi tells investors in a research note. The analyst sees greater upside in shares of Suncor (SU) and Cenovus Energy (CVE).
Imperial Oil price target raised to C$39 from C$35 at RBC Capital » 11:5105/0705/07/21
RBC Capital analyst Greg…
RBC Capital analyst Greg Pardy raised the firm's price target on Imperial Oil to C$39 from C$35 and keeps a Sector Perform rating on the shares.
Imperial Oil price target raised to C$39 from C$33 at TD Securities » 11:2105/0605/06/21
TD Securities analyst…
TD Securities analyst Menno Hulshof raised the firm's price target on Imperial Oil to C$39 from C$33 and keeps a Hold rating on the shares.
Imperial Oil price target raised to C$40 from C$37 at BMO Capital » 11:5105/0305/03/21
BMO Capital analyst Randy…
BMO Capital analyst Randy Ollenberger raised the firm's price target on Imperial Oil to C$40 from C$37 and keeps a Market Perform rating on the shares.
Imperial Oil price target raised to C$39 from C$35 at Scotiabank » 11:3905/0305/03/21
Scotiabank analyst Jason…
Scotiabank analyst Jason Bouvier raised the firm's price target on Imperial Oil to C$39 from C$35 and keeps a Sector Perform rating on the shares.
Imperial Oil price target raised to C$40 from C$36 at Barclays » 06:3505/0305/03/21
Barclays analyst Christopher Tillett raised the firm's price target on Imperial Oil to C$40 from C$36 and keeps an Overweight rating on the shares. Last week's results were a "resounding reaffirmation of the reasons we like" Imperial Oil, namely, its strong cash flow profile/balance sheet setup, leading downstream business, and the potential for capital returns, Tillett tells investors in a research note.
Imperial Oil raises dividend to 27c per share, amends share repurchase program » 08:0504/3004/30/21
Imperial amended its…
Imperial amended its current share purchase program and plans to purchase up to 4% of outstanding common shares by June 28. Additionally, Imperial declared a Q2 dividend of 27c per share, an increase of almost 23%. "These actions reflect the company's strong financial performance and confidence in its future, and demonstrate our ongoing commitment to return cash to shareholders," Corson added.