Imperial Oil (NYSEAMERICAN:IMO) Stock Rating Upgraded by Zacks Research

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

Several other equities analysts also recently issued reports on the stock. UBS Group restated a “buy” rating on shares of Imperial Oil in a research note on Monday, September 14th. Desjardins upgraded Imperial Oil to a “hold” rating in a research report on Thursday, July 16th. TD Securities reissued a “sell” rating on shares of Imperial Oil in a report on Wednesday, August 5th. Imperial Capital reissued a “sell” rating on shares of Imperial Oil in a report on Tuesday, June 23rd. Finally, Scotiabank reissued a “sector perform” rating on shares of Imperial Oil in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, Imperial Oil has an average rating of “Reduce” and an average price target of $116.00.

Imperial Oil Stock Down 2.4%

Shares of NYSEAMERICAN IMO opened at $119.30 on Tuesday. The business has a 50-day moving average of $129.26 and a two-hundred day moving average of $126.26. The company has a market capitalization of $57.45 billion, a price-to-earnings ratio of 19.35 and a beta of 0.57. Imperial Oil has a 1 year low of $83.27 and a 1 year high of $139.44. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.38 and a quick ratio of 1.19.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last issued its earnings results on Friday, July 31st. The energy company reported $4.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.99 by $1.53. The business had revenue of $11.31 billion during the quarter, compared to analysts’ expectations of $10.92 billion. Imperial Oil had a net margin of 8.03% and a return on equity of 22.28%. The company’s revenue for the quarter was up 43.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.86 EPS. On average, analysts forecast that Imperial Oil will post 11.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Imperial Oil

Several hedge funds have recently made changes to their positions in the business. Venture Visionary Partners LLC purchased a new position in shares of Imperial Oil during the third quarter worth about $218,000. QRG Capital Management Inc. raised its stake in Imperial Oil by 11.2% during the 2nd quarter. QRG Capital Management Inc. now owns 2,141 shares of the energy company’s stock valued at $240,000 after acquiring an additional 215 shares during the last quarter. IFP Advisors Inc raised its stake in Imperial Oil by 30.8% during the 2nd quarter. IFP Advisors Inc now owns 5,326 shares of the energy company’s stock valued at $597,000 after acquiring an additional 1,254 shares during the last quarter. Nykredit A S acquired a new stake in Imperial Oil during the 2nd quarter worth approximately $1,040,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Imperial Oil during the 2nd quarter worth approximately $1,180,000. Institutional investors and hedge funds own 20.74% of the company’s stock.

Imperial Oil Company Profile

Imperial Oil Limited is an integrated Canadian energy company engaged in the exploration, production, transportation, refining and marketing of crude oil and natural gas. Founded in 1880, the company is headquartered in Calgary, Alberta, and has operations primarily across Canada.

Imperial’s upstream business includes oil sands production at its Kearl and Cold Lake projects, as well as conventional oil and natural gas activities. The company also holds an interest in Syncrude, one of Canada’s major oil sands mining and upgrading operations.