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

Key Points

• Zacks Research downgraded Imperial Oil from “strong buy” to “hold.”
• Analyst sentiment remains bearish overall, with four “hold” and five “sell” ratings, producing a consensus rating of “strong sell” and a $116 price target.
• Imperial Oil shares opened at $133.28, with a $64.45 billion market capitalization and a 52-week trading range of $82.45 to $139.44; institutional investors own 20.74% of the stock.

Imperial Oil (NYSEAMERICAN:IMO - Get Free Report) TSE: IMO was downgraded by equities researchers at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Thursday,Zacks.com reports.

Several other equities analysts have also commented on IMO. Scotiabank reaffirmed a "sector perform" rating on shares of Imperial Oil in a report on Friday, July 17th. Imperial Capital reissued a "sell" rating on shares of Imperial Oil in a research note on Tuesday, June 23rd. Desjardins upgraded shares of Imperial Oil to a "hold" rating in a research report on Thursday, July 16th. Finally, TD Securities reaffirmed a "sell" rating on shares of Imperial Oil in a research note on Wednesday, August 5th. Four analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Strong Sell" and a consensus price target of $116.00.

Imperial Oil Stock Performance

NYSEAMERICAN:IMO opened at $133.28 on Thursday. The company has a market capitalization of $64.45 billion, a price-to-earnings ratio of 21.62 and a beta of 0.45. The business has a 50 day moving average of $121.33 and a 200 day moving average of $122.59. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.38 and a quick ratio of 1.19. Imperial Oil has a 1-year low of $82.45 and a 1-year high of $139.44.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Root Financial Partners LLC boosted its position in Imperial Oil by 87.8% during the 4th quarter. Root Financial Partners LLC now owns 293 shares of the energy company's stock valued at $25,000 after buying an additional 137 shares during the period. McMillan Office Inc. purchased a new position in shares of Imperial Oil in the fourth quarter valued at about $26,000. Smartleaf Asset Management LLC increased its position in shares of Imperial Oil by 23.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 531 shares of the energy company's stock valued at $46,000 after acquiring an additional 101 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Imperial Oil by 737.7% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 511 shares of the energy company's stock valued at $46,000 after acquiring an additional 450 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of Imperial Oil during the third quarter valued at about $54,000. 20.74% of the stock is owned by hedge funds and other institutional investors.

About Imperial Oil

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.

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