Imperial Oil (NYSEAMERICAN:IMO) Lowered to Strong Sell Rating by Cibc World Mkts

Key Points

• CIBC World Markets has downgraded Imperial Oil from a "hold" rating to a "strong sell" rating, reflecting a negative outlook from analysts.
• The stock has mixed ratings, with one analyst giving a "buy" rating, six "hold" ratings, and five "sell" ratings, leading to a consensus rating of "reduce."
• Imperial Oil's market capitalization stands at $43.15 billion, with a recent price of $85.96 and a 1-year price range between $58.76 and $96.09.

Imperial Oil (NYSEAMERICAN:IMO - Get Free Report) TSE: IMO was downgraded by analysts at Cibc World Mkts from a "hold" rating to a "strong sell" rating in a report issued on Tuesday,Zacks.com reports.

IMO has been the topic of several other reports. BMO Capital Markets restated an "outperform" rating on shares of Imperial Oil in a report on Monday, August 4th. Wolfe Research downgraded Imperial Oil from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, July 23rd. Zacks Research lowered Imperial Oil from a "strong-buy" rating to a "hold" rating in a report on Friday, October 3rd. TD Securities lowered Imperial Oil from a "hold" rating to a "sell" rating in a report on Tuesday, September 30th. Finally, Royal Bank Of Canada boosted their price objective on Imperial Oil from $108.00 to $115.00 and gave the stock a "sector perform" rating in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Reduce" and an average target price of $115.00.

Imperial Oil Price Performance

Shares of NYSEAMERICAN:IMO opened at $85.96 on Tuesday. The company has a current ratio of 1.58, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16. The stock has a market cap of $43.15 billion, a PE ratio of 13.24 and a beta of 0.83. The stock's fifty day simple moving average is $88.90 and its two-hundred day simple moving average is $79.44. Imperial Oil has a 1-year low of $58.76 and a 1-year high of $96.09.

Institutional Investors Weigh In On Imperial Oil

Several institutional investors have recently made changes to their positions in IMO. Goldman Sachs Group Inc. raised its stake in shares of Imperial Oil by 395.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,546,520 shares of the energy company's stock valued at $328,804,000 after purchasing an additional 3,629,568 shares during the period. Bank of America Corp DE boosted its stake in Imperial Oil by 31.6% in the 2nd quarter. Bank of America Corp DE now owns 2,945,528 shares of the energy company's stock worth $234,111,000 after purchasing an additional 707,985 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Imperial Oil by 273.2% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 658,949 shares of the energy company's stock valued at $47,607,000 after buying an additional 482,393 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Imperial Oil by 1,233.1% during the first quarter. Canada Pension Plan Investment Board now owns 498,056 shares of the energy company's stock valued at $35,983,000 after buying an additional 460,696 shares during the period. Finally, Bank of Montreal Can lifted its holdings in shares of Imperial Oil by 16.2% in the second quarter. Bank of Montreal Can now owns 3,235,443 shares of the energy company's stock worth $257,194,000 after buying an additional 451,369 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.

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