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Imperial Oil Ltd(IMO-A)
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Chart of the Day: Imperial Oil Soars to a 7-3/4 Year High

Barchart - Tue May 3, 2022

The Barchart Chart of the Day belongs to Imperial Oil Ltd (IMO).  I found the stock by using Barchart.com to find the "Barchart New Highs" page, and then I clicked on pull-down to select stocks with new all-time highs.  I then viewed the stocks on the list with the FlipCharts feature. 

 

Imperial Oil Ltd climbed to a 7-3/4 year high today at $53.13, and closed up by +4.70%.  The stock today took out the former 7-1/2 year high from April 21 at $52.54.  Barchart’s TrendSpotter turned long on the stock last Friday, with a gain thus far of 6.00%.

 

Imperial Oil Ltd is mainly engaged in the oil & gas production, petroleum products refining, and marketing and chemical business.  It is Canada's largest jet fuel supplier & a major producer of asphalt.  It primarily operates under three segments: Upstream, Downstream and Chemical.  The upstream unit is involved in the exploration and production of crude and synthetic oil, bitumen and natural gas.  Imperial Oil primarily focuses on three main assets in Alberta - the Syncrude oil sands joint venture with Suncor Energy, the Aspen, & the Kearl oil sands projects.  It's upstream assets have a proved reserve life of nearly 30 years.  The downstream segment deals with the refining of crude oil along with distribution and marketing of refined products.  The unit is engaged with the selling of petroleum products under the Esso & Mobil brands with 1,800 retail sites.  The Chemical segment is concerned with the manufacture and marketing of various petrochemicals including plasticizers, polyethylene resins, benzene among others.

 

Provided Content: Content provided by Barchart. The Globe and Mail was not involved, and material was not reviewed prior to publication.

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