Imperial Oil (NYSEAMERICAN:IMO) Stock Rating Upgraded by Zacks Research

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

A number of other brokerages have also recently weighed in on IMO. Scotiabank upgraded Imperial Oil to a “hold” rating in a report on Friday, June 26th. Imperial Capital restated a “sell” rating on shares of Imperial Oil in a report on Tuesday, June 23rd. Finally, TD Securities reaffirmed a “sell” rating on shares of Imperial Oil in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $116.00.

Imperial Oil Stock Performance

NYSEAMERICAN:IMO opened at $119.77 on Wednesday. The company has a market cap of $57.92 billion, a P/E ratio of 28.25 and a beta of 0.45. The firm’s 50 day moving average is $122.10 and its two-hundred day moving average is $117.67. Imperial Oil has a fifty-two week low of $81.46 and a fifty-two week high of $139.44. The company has a quick ratio of 1.02, a current ratio of 1.23 and a debt-to-equity ratio of 0.17.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Compound Planning Inc. lifted its stake in shares of Imperial Oil by 3.5% during the first quarter. Compound Planning Inc. now owns 2,597 shares of the energy company’s stock worth $340,000 after purchasing an additional 88 shares in the last quarter. D.A. Davidson & CO. boosted its position in shares of Imperial Oil by 1.6% in the first quarter. D.A. Davidson & CO. now owns 5,913 shares of the energy company’s stock worth $774,000 after buying an additional 91 shares during the period. Ensign Peak Advisors Inc grew its stake in shares of Imperial Oil by 1.0% in the fourth quarter. Ensign Peak Advisors Inc now owns 9,924 shares of the energy company’s stock valued at $858,000 after buying an additional 100 shares in the last quarter. Smartleaf Asset Management LLC grew its stake 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 buying an additional 101 shares in the last quarter. Finally, Baron Wealth Management LLC grew its stake in shares of Imperial Oil by 3.2% in the first quarter. Baron Wealth Management LLC now owns 4,030 shares of the energy company’s stock valued at $527,000 after buying an additional 124 shares in the last quarter. 20.74% of the stock is owned by hedge funds and other institutional investors.

Imperial Oil Company Profile

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.