Imperial Oil Ltd (NYSEMKT:IMO) (TSE:IMO) was downgraded by research analysts at AltaCorp Capital from a “sector perform” rating to an “underperform” rating in a research note issued on Wednesday.
IMO has been the subject of several other reports. ValuEngine upgraded shares of Imperial Oil from a “sell” rating to a “hold” rating in a research report on Thursday, May 11th. Zacks Investment Research upgraded shares of Imperial Oil from a “hold” rating to a “strong-buy” rating and set a $33.00 target price for the company in a research report on Tuesday, May 16th. CIBC lowered shares of Imperial Oil from a “sector outperform” rating to a “sector perform” rating in a research report on Tuesday, May 23rd. BidaskClub upgraded shares of Imperial Oil from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Finally, National Bank Financial initiated coverage on shares of Imperial Oil in a research report on Tuesday, June 27th. They set a “sector perform” rating for the company. Five analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $46.38.
Imperial Oil (NYSEMKT:IMO) opened at 29.06 on Wednesday. Imperial Oil has a 12-month low of $27.59 and a 12-month high of $36.85. The company’s 50-day moving average price is $28.95 and its 200-day moving average price is $29.77. The company has a market cap of $24.54 billion, a PE ratio of 11.60 and a beta of 1.14.
Imperial Oil (NYSEMKT:IMO) (TSE:IMO) last released its quarterly earnings data on Friday, July 28th. The energy company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.23 by $0.30. Imperial Oil had a negative net margin of 1.10% and a negative return on equity of 1.23%. The company had revenue of $7.03 billion for the quarter, compared to analysts’ expectations of $8.40 billion. During the same period in the previous year, the firm earned ($0.21) earnings per share. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. Equities analysts anticipate that Imperial Oil will post $0.96 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of IMO. Shell Asset Management Co. raised its position in Imperial Oil by 14.2% in the second quarter. Shell Asset Management Co. now owns 95,893 shares of the energy company’s stock worth $3,625,000 after buying an additional 11,900 shares during the last quarter. JPMorgan Chase & Co. raised its position in Imperial Oil by 0.4% in the first quarter. JPMorgan Chase & Co. now owns 110,053 shares of the energy company’s stock worth $3,355,000 after buying an additional 447 shares during the last quarter. Morgan Stanley raised its position in Imperial Oil by 172.2% in the first quarter. Morgan Stanley now owns 635,896 shares of the energy company’s stock worth $19,394,000 after buying an additional 402,289 shares during the last quarter. APG Asset Management N.V. raised its position in Imperial Oil by 49.4% in the first quarter. APG Asset Management N.V. now owns 646,342 shares of the energy company’s stock worth $19,638,000 after buying an additional 213,779 shares during the last quarter. Finally, Hillsdale Investment Management Inc. raised its position in Imperial Oil by 83.2% in the first quarter. Hillsdale Investment Management Inc. now owns 88,820 shares of the energy company’s stock worth $2,701,000 after buying an additional 40,350 shares during the last quarter.
About Imperial Oil
Imperial Oil Limited is an integrated oil company. The Company is engaged in all the phases of the petroleum industry in Canada, including exploration for, and production and sale of, crude oil and natural gas. Its operations are conducted in three segments: Upstream, Downstream and Chemical. The Upstream operations include the exploration for, and production of, crude oil, natural gas, synthetic oil and bitumen.
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