Imperial Oil (TSE:IMO) Rating Lowered to “Sell” at The Goldman Sachs Group

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) was downgraded by equities research analysts at The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research note issued to investors on Thursday,BayStreet.CA reports.

Several other research analysts have also issued reports on IMO. CIBC increased their price objective on Imperial Oil from C$105.00 to C$108.00 in a research note on Friday, January 17th. Wolfe Research cut Imperial Oil from a “strong-buy” rating to a “hold” rating in a report on Friday, January 3rd. National Bankshares increased their price target on shares of Imperial Oil from C$109.00 to C$110.00 and gave the company a “sector perform” rating in a research note on Thursday, January 30th. Raymond James lifted their price target on shares of Imperial Oil from C$101.50 to C$104.00 in a research report on Friday, December 13th. Finally, Scotiabank raised shares of Imperial Oil to a “hold” rating in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating and nine have given a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$105.67.

Imperial Oil Stock Performance

Shares of IMO traded down C$0.71 on Thursday, reaching C$103.75. 376,321 shares of the stock traded hands, compared to its average volume of 891,605. The firm has a market cap of C$54.16 billion, a price-to-earnings ratio of 11.14, a P/E/G ratio of 0.21 and a beta of 1.78. The company has a debt-to-equity ratio of 18.04, a current ratio of 1.44 and a quick ratio of 0.98. The stock’s 50-day moving average price is C$99.10 and its 200-day moving average price is C$98.79. Imperial Oil has a 12 month low of C$86.96 and a 12 month high of C$108.89.

About Imperial Oil

Imperial Oil is one of Canada’s largest integrated oil companies, focusing on upstream operations, petroleum refining operations, and the marketing of petroleum products. Production averaged 398 thousand barrels of oil equivalent per day in 2020. The company estimates that it holds 5.2 billion boe of proved and probable crude oil and natural gas reserves.