Imperial Oil (NYSEAMERICAN:IMO) Upgraded by Desjardins to Hold Rating

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) was upgraded by investment analysts at Desjardins to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Scotiabank reaffirmed a “sector perform” rating on shares of Imperial Oil in a research note on Friday. Imperial Capital reissued a “sell” rating on shares of Imperial Oil in a report on Tuesday, June 23rd. TD Securities restated a “sell” rating on shares of Imperial Oil in a research report on Wednesday, May 13th. Finally, Zacks Research upgraded shares of Imperial Oil from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $116.00.

Imperial Oil Stock Up 2.3%

Imperial Oil stock opened at $122.52 on Thursday. The business’s 50-day moving average price is $122.01 and its 200 day moving average price is $117.70. The company has a quick ratio of 1.02, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. The firm has a market cap of $59.25 billion, a price-to-earnings ratio of 28.90 and a beta of 0.45. Imperial Oil has a 52 week low of $81.66 and a 52 week high of $139.44.

Institutional Investors Weigh In On Imperial Oil

Large investors have recently made changes to their positions in the stock. UBS Group AG lifted its holdings in Imperial Oil by 566.9% during the 3rd quarter. UBS Group AG now owns 1,406,624 shares of the energy company’s stock worth $127,637,000 after buying an additional 1,195,698 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Imperial Oil by 30.4% in the third quarter. Bank of America Corp DE now owns 3,840,645 shares of the energy company’s stock worth $348,500,000 after acquiring an additional 895,117 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Imperial Oil in the first quarter worth $93,097,000. Morgan Stanley increased its position in shares of Imperial Oil by 47.9% during the fourth quarter. Morgan Stanley now owns 1,867,363 shares of the energy company’s stock worth $161,172,000 after acquiring an additional 604,447 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Imperial Oil by 335.8% during the fourth quarter. AQR Capital Management LLC now owns 277,929 shares of the energy company’s stock worth $24,006,000 after acquiring an additional 214,152 shares during the period. 20.74% of the stock is currently 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.