Imperial Oil (NYSEAMERICAN:IMO) Rating Lowered to “Hold” at Zacks Research

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other research firms also recently weighed in on IMO. Royal Bank Of Canada downgraded Imperial Oil from a “sector perform” rating to an “underperform” rating and set a $116.00 price target on the stock. in a research note on Monday, February 23rd. TD Securities reiterated a “sell” rating on shares of Imperial Oil in a report on Wednesday, May 13th. Four equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, Imperial Oil has an average rating of “Reduce” and an average target price of $116.00.

Imperial Oil Stock Performance

IMO stock opened at $114.19 on Tuesday. The business’s fifty day moving average is $126.96 and its 200-day moving average is $113.82. The company has a quick ratio of 1.02, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. The company has a market cap of $55.22 billion, a P/E ratio of 26.93 and a beta of 0.43. Imperial Oil has a twelve month low of $77.20 and a twelve month high of $139.44.

Institutional Investors Weigh In On Imperial Oil

Several hedge funds have recently bought and sold shares of the stock. Rathbones Group PLC lifted its position in Imperial Oil by 3.9% during the first quarter. Rathbones Group PLC now owns 6,734 shares of the energy company’s stock worth $879,000 after acquiring an additional 251 shares during the last quarter. Parallel Advisors LLC increased its stake in Imperial Oil by 4.8% in the first quarter. Parallel Advisors LLC now owns 6,814 shares of the energy company’s stock valued at $892,000 after acquiring an additional 311 shares during the last quarter. NewEdge Advisors LLC raised its position in Imperial Oil by 2.4% during the first quarter. NewEdge Advisors LLC now owns 13,066 shares of the energy company’s stock valued at $1,709,000 after purchasing an additional 308 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Imperial Oil by 61.6% during the first quarter. EverSource Wealth Advisors LLC now owns 4,336 shares of the energy company’s stock valued at $567,000 after purchasing an additional 1,653 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp raised its position in Imperial Oil by 1.8% during the first quarter. OMERS ADMINISTRATION Corp now owns 162,648 shares of the energy company’s stock valued at $21,236,000 after purchasing an additional 2,907 shares in the last quarter. 20.74% of the stock is currently owned by institutional investors and hedge funds.

Imperial Oil Company Profile

Imperial Oil (NYSEAMERICAN: IMO) is a Canadian integrated energy company involved in the exploration, production, refining and marketing of petroleum and petrochemical products. Headquartered in Calgary, Alberta, Imperial has operated in Canada for well over a century and is one of the country’s long-standing energy firms. The company is majority-owned by Exxon Mobil Corporation, which provides strategic and technical links to global upstream and downstream capabilities.

Imperial’s operations span upstream activities—exploration and production of crude oil, natural gas and oil-sands resources—and downstream operations including refining, manufacturing of fuels and lubricants, petrochemical products, and retail distribution.