Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday, Zacks.com reports.

According to Zacks, “Imperial Oil’s integrated business portfolio of upstream and downstream assets provides it with high level of stability, reducing the risk profile of the company. Strong execution and ramped-up activities in Kearl, Cold Lake and Syncrude projects positions the company for solid production growth and is expected to augment its revenues and earnings going forward. Moreover, the company’s strong financials and investor-friendly moves also buoys investors' confidence. However, widening crude price differentials amid pipeline pinch along with high breakeven costs associated with oil sands operations limit its margins. Further, prolonged delays in the company’s major oil sands project Aspen is also a cause of concern. As it is, rising operating costs is denting its profit levels. Hence, the stock warrants a cautious stance.”

IMO has been the topic of several other reports. Credit Suisse Group upgraded Imperial Oil from an “underperform” rating to a “neutral” rating in a research report on Thursday, March 14th. Citigroup reiterated a “hold” rating on shares of Imperial Oil in a research report on Friday, March 22nd. CIBC reiterated a “sell” rating on shares of Imperial Oil in a research report on Saturday, February 2nd. Raymond James reiterated an “average” rating and set a $44.00 price target on shares of Imperial Oil in a research report on Wednesday, March 20th. Finally, Morgan Stanley set a $42.00 price target on Imperial Oil and gave the company a “hold” rating in a research report on Tuesday, January 29th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $38.41.

NYSEAMERICAN IMO traded up $0.27 during trading on Monday, hitting $28.25. 5,748 shares of the company’s stock traded hands, compared to its average volume of 362,431. Imperial Oil has a 12-month low of $24.29 and a 12-month high of $34.56.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last released its quarterly earnings data on Friday, April 26th. The energy company reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.09). The business had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8.21 billion. The firm’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.62 earnings per share.

Hedge funds and other institutional investors have recently modified their holdings of the business. Macquarie Group Ltd. bought a new position in Imperial Oil during the fourth quarter valued at approximately $38,000. Beutel Goodman & Co Ltd. grew its position in Imperial Oil by 80.6% during the first quarter. Beutel Goodman & Co Ltd. now owns 1,743 shares of the energy company’s stock valued at $48,000 after acquiring an additional 778 shares during the last quarter. Atlas Capital Advisors LLC bought a new position in Imperial Oil during the fourth quarter valued at approximately $138,000. NumerixS Investment Technologies Inc grew its position in Imperial Oil by 1,900.0% during the first quarter. NumerixS Investment Technologies Inc now owns 6,000 shares of the energy company’s stock valued at $164,000 after acquiring an additional 5,700 shares during the last quarter. Finally, Fruth Investment Management bought a new position in Imperial Oil during the first quarter valued at approximately $204,000.

About Imperial Oil

Imperial Oil Limited explores for, produces, and sells crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream, and Chemical. The Upstream segment explores for and produces crude oil, natural gas, synthetic oil, and bitumen. As of December 31, 2017, this segment had 450 million oil-equivalent barrels of proved undeveloped reserves.

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