Imperial Oil (NYSEAMERICAN:IMO) Rating Lowered to “Underweight” at JPMorgan Chase & Co.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) was downgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a report issued on Thursday, MarketBeat.com reports.

A number of other analysts have also weighed in on IMO. StockNews.com lowered Imperial Oil from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Scotiabank restated a “sector perform” rating and set a $110.00 price target on shares of Imperial Oil in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $109.00.

Imperial Oil Stock Performance

Shares of IMO stock opened at $61.73 on Thursday. The company has a market capitalization of $31.64 billion, a P/E ratio of 9.20 and a beta of 1.42. Imperial Oil has a fifty-two week low of $54.58 and a fifty-two week high of $80.17. The company has a quick ratio of 1.23, a current ratio of 1.44 and a debt-to-equity ratio of 0.17.

Institutional Trading of Imperial Oil

Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC raised its holdings in Imperial Oil by 3.7% during the third quarter. FMR LLC now owns 36,933,627 shares of the energy company’s stock worth $2,598,604,000 after purchasing an additional 1,331,235 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Imperial Oil by 10,896.4% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 867,174 shares of the energy company’s stock worth $59,135,000 after acquiring an additional 859,288 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in Imperial Oil in the second quarter valued at $40,729,000. TD Asset Management Inc boosted its stake in Imperial Oil by 12.2% in the second quarter. TD Asset Management Inc now owns 3,796,660 shares of the energy company’s stock valued at $258,817,000 after acquiring an additional 412,600 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Imperial Oil by 8.4% during the third quarter. The Manufacturers Life Insurance Company now owns 4,420,002 shares of the energy company’s stock worth $311,175,000 after purchasing an additional 341,689 shares during the last quarter. 20.74% of the stock is currently owned by institutional investors and hedge funds.

About Imperial Oil

Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment transports and refines crude oil, blends refined products, and distributes and markets of refined products.