Wolfe Research Downgrades Imperial Oil (NYSEAMERICAN:IMO) to Peer Perform

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) was downgraded by analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a research report issued on Friday, MarketBeat reports.

Several other equities analysts have also commented on the company. JPMorgan Chase & Co. lowered Imperial Oil from a “neutral” rating to an “underweight” rating in a research report on Thursday, December 19th. Scotiabank reiterated a “sector perform” rating and set a $110.00 target price on shares of Imperial Oil in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $109.00.

Imperial Oil Stock Performance

Shares of IMO opened at $62.41 on Friday. Imperial Oil has a one year low of $54.58 and a one year high of $80.17. The company has a quick ratio of 1.23, a current ratio of 1.44 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $31.99 billion, a price-to-earnings ratio of 9.30 and a beta of 1.42.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. grew its holdings in Imperial Oil by 29.6% during the 2nd quarter. Principal Financial Group Inc. now owns 17,542 shares of the energy company’s stock valued at $1,196,000 after buying an additional 4,002 shares in the last quarter. Caprock Group LLC purchased a new position in shares of Imperial Oil during the second quarter valued at about $530,000. Triasima Portfolio Management inc. increased its holdings in shares of Imperial Oil by 18.7% in the second quarter. Triasima Portfolio Management inc. now owns 379,050 shares of the energy company’s stock worth $25,833,000 after purchasing an additional 59,750 shares during the last quarter. Royal London Asset Management Ltd. boosted its stake in Imperial Oil by 710.5% during the second quarter. Royal London Asset Management Ltd. now owns 91,485 shares of the energy company’s stock valued at $6,244,000 after buying an additional 80,197 shares during the last quarter. Finally, SIR Capital Management L.P. purchased a new position in Imperial Oil during the 2nd quarter valued at approximately $11,405,000. 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.