Imperial Oil (NYSEAMERICAN:IMO) Downgraded by StockNews.com

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

A number of other research firms also recently weighed in on IMO. Raymond James upgraded Imperial Oil to a “hold” rating in a research report on Tuesday, May 28th. Scotiabank dropped their price objective on Imperial Oil from $111.00 to $110.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Finally, Wolfe Research initiated coverage on shares of Imperial Oil in a research note on Thursday, July 18th. They issued an “outperform” rating and a $108.00 target price on the stock. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $94.80.

Imperial Oil Stock Performance

Shares of IMO stock opened at $75.93 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 1.04 and a debt-to-equity ratio of 0.17. Imperial Oil has a 52 week low of $52.97 and a 52 week high of $77.70. The firm has a market cap of $40.69 billion, a PE ratio of 11.90 and a beta of 1.47.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last issued its quarterly earnings data on Friday, August 2nd. The energy company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.11. Imperial Oil had a net margin of 9.46% and a return on equity of 20.76%. The firm had revenue of $9.78 billion for the quarter, compared to analyst estimates of $10.50 billion. As a group, analysts predict that Imperial Oil will post 6.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Imperial Oil

Large investors have recently bought and sold shares of the company. Fiera Capital Corp boosted its position in Imperial Oil by 262.5% during the second quarter. Fiera Capital Corp now owns 95,455 shares of the energy company’s stock valued at $6,511,000 after purchasing an additional 69,121 shares during the last quarter. Creative Planning boosted its holdings in shares of Imperial Oil by 14.5% in the 2nd quarter. Creative Planning now owns 38,305 shares of the energy company’s stock valued at $2,614,000 after buying an additional 4,843 shares during the last quarter. Kathmere Capital Management LLC boosted its holdings in shares of Imperial Oil by 15.4% in the 2nd quarter. Kathmere Capital Management LLC now owns 4,192 shares of the energy company’s stock valued at $286,000 after buying an additional 558 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of Imperial Oil by 9.7% in the second quarter. Mackenzie Financial Corp now owns 445,497 shares of the energy company’s stock valued at $30,379,000 after buying an additional 39,488 shares in the last quarter. Finally, AXA S.A. increased its holdings in Imperial Oil by 15.4% during the second quarter. AXA S.A. now owns 4,528 shares of the energy company’s stock worth $309,000 after buying an additional 604 shares during the last quarter. Institutional investors and hedge funds own 20.74% of the company’s stock.

Imperial Oil Company Profile

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.