Imperial Oil (NYSEAMERICAN:IMO) Lowered to Hold Rating by Zacks Research

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

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

Imperial Oil Price Performance

Imperial Oil stock opened at $114.19 on Tuesday. The stock’s 50 day moving average price is $126.96 and its two-hundred day moving average price is $113.82. The stock has a market capitalization of $55.22 billion, a price-to-earnings ratio of 26.93 and a beta of 0.43. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.02 and a current ratio of 1.23. Imperial Oil has a 52-week low of $77.20 and a 52-week high of $139.44.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IMO. UBS Group AG grew its stake in Imperial Oil by 566.9% in the 3rd quarter. UBS Group AG now owns 1,406,624 shares of the energy company’s stock valued at $127,637,000 after buying an additional 1,195,698 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Imperial Oil by 30.4% during the 3rd quarter. Bank of America Corp DE now owns 3,840,645 shares of the energy company’s stock worth $348,500,000 after acquiring an additional 895,117 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Imperial Oil during the 1st quarter worth $93,097,000. Morgan Stanley lifted its holdings in shares of Imperial Oil by 47.9% during the 4th quarter. Morgan Stanley now owns 1,867,363 shares of the energy company’s stock worth $161,172,000 after acquiring an additional 604,447 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its stake in Imperial Oil by 56.0% in the third quarter. Mackenzie Financial Corp now owns 1,194,462 shares of the energy company’s stock worth $108,282,000 after purchasing an additional 428,844 shares during the last quarter. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

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.