Imperial Oil (NYSEAMERICAN:IMO) Upgraded by Zacks Research to Strong-Buy Rating

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 research note issued on Tuesday,Zacks.com reports.

A number of other brokerages have also issued reports on IMO. TD Securities reaffirmed a “sell” rating on shares of Imperial Oil in a report on Monday, February 23rd. Raymond James Financial lowered shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a research report on Monday, December 8th. BMO Capital Markets cut shares of Imperial Oil from an “outperform” rating to a “market perform” rating in a research note on Monday, December 15th. Finally, Royal Bank Of Canada downgraded shares of Imperial Oil from a “sector perform” rating to an “underperform” rating and set a $116.00 price target on the stock. in a report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $116.00.

Imperial Oil Stock Up 0.8%

Shares of IMO opened at $130.21 on Tuesday. The business’s 50 day moving average is $114.48 and its 200 day moving average is $99.37. The company has a current ratio of 1.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.18. Imperial Oil has a 12-month low of $58.76 and a 12-month high of $131.23. The company has a market capitalization of $62.97 billion, a PE ratio of 28.43 and a beta of 0.66.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Purpose Unlimited Inc. bought a new stake in Imperial Oil in the fourth quarter worth $1,002,000. Larry Mathis Financial Planning LLC purchased a new stake in Imperial Oil during the fourth quarter valued at $221,000. SHP Wealth Management bought a new position in Imperial Oil during the fourth quarter valued at $75,000. Caitong International Asset Management Co. Ltd lifted its position in Imperial Oil by 1,446.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 727 shares of the energy company’s stock valued at $63,000 after purchasing an additional 680 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its stake in shares of Imperial Oil by 61.6% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 8,504 shares of the energy company’s stock worth $734,000 after buying an additional 3,240 shares in the last quarter. 20.74% of the stock is currently owned by 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.