April 26, 2019 / 3:45 PM / 7 months ago

BUZZ-Imperial Oil shares fall on profit miss, lower capex view

** Shares of Canadian oil and gas producer Imperial Oil Ltd down 3.6% at C$38.48

** Co reports Q1 adj. profit of C$0.38/shr vs avg. analyst est. of C$0.48/shr, according to Refinitiv data

** Net profit fell 43.2% to C$293 mln ($217.3 mln), or 38 Canadian cents/shr

** Co expects to spend between C$1.8 bln and C$1.9 bln, down from its previous outlook of C$2.3 bln to C$2.4 bln

** Refinery throughput averaged 383,000 bpd, down from 408,000 bpd a year ago; capacity utilization reached 91%

** The average rating by 22 analysts covering the stock is ‘hold’ and the mean PT is C$41.45

** Despite Friday’s losses, stock up 11.3% this year

Reporting By Arundhati Sarkar in Bengaluru

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