Imperial Oil (TSE:IMO) Downgraded to Strong Sell Rating by Desjardins

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) was downgraded by equities research analysts at Desjardins from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other equities analysts have also recently weighed in on the stock. The Goldman Sachs Group cut shares of Imperial Oil from a “neutral” rating to a “sell” rating in a research report on Thursday, March 27th. Raymond James upgraded shares of Imperial Oil from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from C$108.00 to C$104.00 in a research report on Wednesday, April 9th. Wolfe Research upgraded shares of Imperial Oil from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 21st. Scotiabank upgraded shares of Imperial Oil to a “hold” rating in a research report on Wednesday, March 19th. Finally, TD Securities reduced their target price on shares of Imperial Oil from C$94.00 to C$92.00 and set a “hold” rating for the company in a research report on Monday, April 21st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Imperial Oil has a consensus rating of “Hold” and an average target price of C$103.78.

Imperial Oil Stock Performance

TSE:IMO opened at C$99.03 on Tuesday. The company has a debt-to-equity ratio of 18.04, a quick ratio of 0.98 and a current ratio of 1.44. The company has a fifty day moving average of C$95.34 and a two-hundred day moving average of C$97.29. The stock has a market capitalization of C$51.70 billion, a PE ratio of 10.64, a P/E/G ratio of 0.21 and a beta of 1.78. Imperial Oil has a fifty-two week low of C$82.98 and a fifty-two week high of C$108.89.

About Imperial Oil

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.