Imperial Oil (NYSEAMERICAN:IMO) Cut to Sell at The Goldman Sachs Group

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) was downgraded by analysts at The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a report issued on Thursday,Briefing.com Automated Import reports.

Several other research firms have also weighed in on IMO. Wolfe Research lowered Imperial Oil from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Scotiabank upgraded Imperial Oil to a “hold” rating in a report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. cut Imperial Oil from a “neutral” rating to an “underweight” rating in a research note on Thursday, December 19th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $109.00.

Imperial Oil Price Performance

IMO opened at $73.16 on Thursday. The firm has a market capitalization of $37.24 billion, a P/E ratio of 11.10 and a beta of 1.44. The business’s fifty day simple moving average is $69.08. Imperial Oil has a fifty-two week low of $60.95 and a fifty-two week high of $80.17. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.34 and a quick ratio of 1.23.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its holdings in Imperial Oil by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 548,554 shares of the energy company’s stock valued at $38,630,000 after buying an additional 16,555 shares in the last quarter. Cerity Partners LLC boosted its position in shares of Imperial Oil by 95.5% in the third quarter. Cerity Partners LLC now owns 61,659 shares of the energy company’s stock valued at $4,344,000 after acquiring an additional 30,127 shares during the period. BNP Paribas Financial Markets bought a new position in Imperial Oil during the third quarter worth about $28,000. Bridgewater Associates LP raised its stake in Imperial Oil by 522.8% in the 3rd quarter. Bridgewater Associates LP now owns 201,126 shares of the energy company’s stock worth $14,166,000 after purchasing an additional 168,831 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. boosted its holdings in Imperial Oil by 1.0% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 207,893 shares of the energy company’s stock valued at $14,627,000 after purchasing an additional 2,065 shares during the period. 20.74% of the stock is owned by institutional investors and hedge funds.

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.