Imperial Oil (TSE:IMO) Downgraded by Wolfe Research to Hold

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

Other equities research analysts have also issued reports about the company. Royal Bank of Canada raised their price objective on Imperial Oil from C$99.00 to C$101.00 in a research note on Wednesday, November 6th. Scotiabank downgraded shares of Imperial Oil from an “outperform” rating to a “sector perform” rating and set a C$110.00 price target on the stock. in a research note on Wednesday, September 25th. BMO Capital Markets lifted their target price on shares of Imperial Oil from C$115.00 to C$120.00 in a research note on Friday, October 4th. National Bankshares decreased their price target on Imperial Oil from C$115.00 to C$112.00 in a research note on Friday, September 27th. Finally, JPMorgan Chase & Co. raised their target price on shares of Imperial Oil from C$97.00 to C$100.00 in a research note on Wednesday, November 13th. Ten analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$103.90.

Imperial Oil Price Performance

Shares of Imperial Oil stock opened at C$90.02 on Friday. Imperial Oil has a 52 week low of C$73.81 and a 52 week high of C$108.89. The company has a current ratio of 1.40, a quick ratio of 0.98 and a debt-to-equity ratio of 18.27. The company’s 50-day moving average price is C$99.43 and its two-hundred day moving average price is C$98.13. The stock has a market cap of C$48.24 billion, a PE ratio of 9.44, a price-to-earnings-growth ratio of 0.21 and a beta of 1.78.

Insider Activity at Imperial Oil

In related news, Director Bradley William Corson purchased 4,800 shares of Imperial Oil stock in a transaction on Thursday, December 12th. The stock was acquired at an average cost of C$97.44 per share, for a total transaction of C$467,713.92. 71.26% of the stock is currently owned by company insiders.

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.