Zacks Research Downgrades Imperial Oil (NYSEAMERICAN:IMO) to Hold

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

Other equities research analysts also recently issued reports about the stock. Royal Bank Of Canada downgraded shares of Imperial Oil from a “sector perform” rating to an “underperform” rating and set a $116.00 price objective for the company. in a research note on Monday, February 23rd. TD Securities reiterated a “sell” rating on shares of Imperial Oil in a research note on Wednesday, May 13th. Four equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $116.00.

Imperial Oil Price Performance

Shares of IMO opened at $114.19 on Tuesday. The company has a market cap of $55.22 billion, a price-to-earnings 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. 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 50 day moving average of $126.96 and a two-hundred day moving average of $113.82.

Institutional Trading of Imperial Oil

A number of institutional investors and hedge funds have recently modified their holdings of IMO. AQR Capital Management LLC grew its stake in Imperial Oil by 5.0% during the 1st quarter. AQR Capital Management LLC now owns 34,218 shares of the energy company’s stock valued at $2,475,000 after acquiring an additional 1,627 shares in the last quarter. NewEdge Advisors LLC grew its stake in Imperial Oil by 54.7% during the 1st quarter. NewEdge Advisors LLC now owns 11,887 shares of the energy company’s stock valued at $860,000 after acquiring an additional 4,201 shares in the last quarter. Focus Partners Wealth purchased a new stake in Imperial Oil during the 1st quarter valued at about $200,000. Cetera Investment Advisers grew its stake in Imperial Oil by 6.8% during the 2nd quarter. Cetera Investment Advisers now owns 4,569 shares of the energy company’s stock valued at $363,000 after acquiring an additional 291 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Imperial Oil by 4.7% during the 2nd quarter. Invesco Ltd. now owns 354,865 shares of the energy company’s stock valued at $28,205,000 after acquiring an additional 15,834 shares in the last quarter. Hedge funds and other institutional investors own 20.74% of the company’s stock.

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.