Royal Bank of Canada Reiterates Sector Perform Rating for Imperial Oil (NYSEAMERICAN:IMO)

Imperial Oil (NYSEAMERICAN:IMO - Get Free Report) TSE: IMO's stock had its "sector perform" rating reissued by equities researchers at Royal Bank of Canada in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $101.00 target price on the energy company's stock. Royal Bank of Canada's target price indicates a potential upside of 66.85% from the stock's previous close.

A number of other equities research analysts have also recently commented on the stock. The Goldman Sachs Group cut shares of Imperial Oil from a "neutral" rating to a "sell" rating in a report on Thursday, March 27th. Wolfe Research lowered Imperial Oil from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. Scotiabank upgraded Imperial Oil to a "hold" rating in a report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. downgraded Imperial Oil from a "neutral" rating to an "underweight" rating in a report on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $106.33.

Imperial Oil Trading Down 2.2 %

NYSEAMERICAN IMO traded down $1.37 during trading hours on Thursday, hitting $60.53. 367,955 shares of the company's stock were exchanged, compared to its average volume of 436,348. Imperial Oil has a 1-year low of $59.80 and a 1-year high of $80.17. The company has a current ratio of 1.34, a quick ratio of 1.23 and a debt-to-equity ratio of 0.17. The firm has a 50-day moving average of $69.44. The stock has a market cap of $30.81 billion, a price-to-earnings ratio of 9.13 and a beta of 1.44.

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Hedge Funds Weigh In On Imperial Oil

Several large investors have recently bought and sold shares of the stock. Signaturefd LLC lifted its holdings in Imperial Oil by 2.0% during the fourth quarter. Signaturefd LLC now owns 7,648 shares of the energy company's stock worth $471,000 after acquiring an additional 150 shares during the period. Sequoia Financial Advisors LLC increased its holdings in Imperial Oil by 4.3% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,916 shares of the energy company's stock worth $241,000 after buying an additional 163 shares during the last quarter. Group One Trading LLC raised its position in Imperial Oil by 29.7% in the fourth quarter. Group One Trading LLC now owns 755 shares of the energy company's stock worth $47,000 after acquiring an additional 173 shares during the period. Gold Investment Management Ltd. boosted its stake in Imperial Oil by 0.7% in the fourth quarter. Gold Investment Management Ltd. now owns 27,904 shares of the energy company's stock valued at $1,719,000 after acquiring an additional 186 shares during the last quarter. Finally, OLD National Bancorp IN grew its position in shares of Imperial Oil by 5.0% during the 4th quarter. OLD National Bancorp IN now owns 3,920 shares of the energy company's stock valued at $241,000 after acquiring an additional 187 shares during the period. 20.74% of the stock is currently owned by institutional investors.

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.