Saturday, August 1, 2020
IMO.TO stock: My weekend research on August 1, 2020
Imperial Oil Ltd. (TSX:IMO). Down $1.06, or 4.82 per cent, to $20.95. Imperial Oil Ltd. reported a net loss of $526 million on revenue of $3.7 billion in the three months ended June 30, down from a net profit of $1.2 billion on revenue of $9.26 billion in the year-earlier period. Imperial, which is 69.6 per cent owned by American giant Exxon Mobil Corp., blamed lower oil prices and refinery profit margins due to the COVID-19-related economic slump during the quarter.
My study notes:
net loss: $526 million - three months end June 30, compared to net profit 1.2 billion last year
69.6 percent owned by American giant Exxon Corp.
I do believe that it is right time to purchase IMO.TO stock. If I can hold and sell it when price goes up $23.00 dollars, so I can make profit another $1000 dollars. And I wait for another swing.
Most of important is to read more about IMO business, and understand how business works. I should guess what is next related to oil demand, economy reopen etc.