Imperial Oil (NYSEAMERICAN:IMO) Rating Reiterated by Scotiabank

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO)‘s stock had its “sector perform” rating reaffirmed by equities researchers at Scotiabank in a report issued on Wednesday, Benzinga reports. They currently have a $110.00 target price on the energy company’s stock. Scotiabank’s price target points to a potential upside of 55.85% from the stock’s previous close.

IMO has been the topic of several other reports. StockNews.com cut Imperial Oil from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Raymond James raised shares of Imperial Oil to a “hold” rating in a research report on Tuesday, May 28th. Finally, Wolfe Research began coverage on shares of Imperial Oil in a research note on Thursday, July 18th. They set an “outperform” rating and a $108.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $99.50.

Imperial Oil Stock Down 1.3 %

Shares of NYSEAMERICAN IMO traded down $0.92 during mid-day trading on Wednesday, hitting $70.58. The stock had a trading volume of 33,310 shares, compared to its average volume of 388,034. Imperial Oil has a 1 year low of $52.97 and a 1 year high of $77.70. The company has a quick ratio of 1.16, a current ratio of 1.40 and a debt-to-equity ratio of 0.17. The company has a market cap of $37.30 billion, a price-to-earnings ratio of 11.06 and a beta of 1.45.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last posted its earnings results on Friday, August 2nd. The energy company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.11. Imperial Oil had a return on equity of 22.73% and a net margin of 10.05%. The company had revenue of $9.78 billion for the quarter, compared to analysts’ expectations of $10.50 billion. On average, equities research analysts expect that Imperial Oil will post 6.2 earnings per share for the current year.

Institutional Investors Weigh In On Imperial Oil

Hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company increased its holdings in shares of Imperial Oil by 95.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 6,597,474 shares of the energy company’s stock valued at $376,421,000 after acquiring an additional 3,225,957 shares in the last quarter. TD Asset Management Inc grew its position in Imperial Oil by 12.2% during the 2nd quarter. TD Asset Management Inc now owns 3,796,660 shares of the energy company’s stock valued at $258,817,000 after purchasing an additional 412,600 shares during the last quarter. Point72 Asset Management L.P. increased its stake in Imperial Oil by 35.6% during the 4th quarter. Point72 Asset Management L.P. now owns 1,120,229 shares of the energy company’s stock valued at $63,913,000 after purchasing an additional 293,910 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Imperial Oil by 10,896.4% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 867,174 shares of the energy company’s stock worth $59,135,000 after buying an additional 859,288 shares during the last quarter. Finally, Toronto Dominion Bank lifted its stake in shares of Imperial Oil by 14.7% in the second quarter. Toronto Dominion Bank now owns 822,478 shares of the energy company’s stock worth $56,134,000 after buying an additional 105,205 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 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.