Wolfe Research Downgrades Imperial Oil (TSE:IMO) to Hold

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO was downgraded by Wolfe Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other research firms have also commented on IMO. The Goldman Sachs Group lowered shares of Imperial Oil from a "neutral" rating to a "sell" rating in a report on Thursday, March 27th. Scotiabank boosted their price target on shares of Imperial Oil from C$100.00 to C$110.00 in a report on Friday, July 11th. Desjardins lowered shares of Imperial Oil from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 3rd. TD Securities reduced their price target on shares of Imperial Oil from C$94.00 to C$92.00 and set a "hold" rating for the company in a report on Monday, April 21st. Finally, Raymond James Financial lowered shares of Imperial Oil from a "moderate buy" rating to a "hold" rating and boosted their price target for the company from C$105.00 to C$107.00 in a report on Thursday, July 3rd. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of C$104.11.

Imperial Oil Trading Up 0.2%

IMO traded up C$0.22 on Wednesday, reaching C$114.76. 526,910 shares of the company traded hands, compared to its average volume of 784,054. Imperial Oil has a one year low of C$82.98 and a one year high of C$115.85. The firm has a fifty day simple moving average of C$107.13 and a two-hundred day simple moving average of C$100.50. The company has a market cap of C$59.91 billion, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 0.21 and a beta of 1.78. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 18.04.

Imperial Oil Company Profile

Imperial Oil is one of Canada's largest integrated oil companies, focusing on upstream operations, petroleum refining operations, and the marketing of petroleum products. Production averaged 398 thousand barrels of oil equivalent per day in 2020. The company estimates that it holds 5.2 billion boe of proved and probable crude oil and natural gas reserves.