Imperial Oil (NYSEAMERICAN:IMO) Receives “Sector Perform” Rating from Royal Bank of Canada

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO)‘s stock had its “sector perform” rating reiterated by stock analysts 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 points to a potential upside of 45.87% from the stock’s previous close.

IMO has been the topic of a number of other reports. The Goldman Sachs Group downgraded shares of Imperial Oil from a “neutral” rating to a “sell” rating in a research report on Thursday, March 27th. JPMorgan Chase & Co. downgraded Imperial Oil from a “neutral” rating to an “underweight” rating in a research report on Thursday, December 19th. Wolfe Research cut Imperial Oil from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Finally, Scotiabank upgraded Imperial Oil to a “hold” rating in a report on Wednesday, March 19th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Imperial Oil presently has a consensus rating of “Hold” and a consensus price target of $106.33.

Imperial Oil Stock Down 5.8 %

Imperial Oil stock traded down $4.29 during mid-day trading on Thursday, hitting $69.24. 267,153 shares of the company’s stock traded hands, compared to its average volume of 492,853. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.23 and a current ratio of 1.34. Imperial Oil has a one year low of $60.95 and a one year high of $80.17. The company has a 50 day moving average price of $69.67. The firm has a market cap of $35.25 billion, a P/E ratio of 10.51 and a beta of 1.44.

Hedge Funds Weigh In On Imperial Oil

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Winch Advisory Services LLC acquired a new position in shares of Imperial Oil during the 4th quarter valued at about $26,000. BNP Paribas Financial Markets bought a new stake in shares of Imperial Oil in the 3rd quarter worth approximately $28,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Imperial Oil during the 4th quarter worth approximately $41,000. Group One Trading LLC lifted its holdings in shares of Imperial Oil by 29.7% during the 4th 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. Finally, Allworth Financial LP lifted its stake in Imperial Oil by 21.0% during the fourth quarter. Allworth Financial LP now owns 1,630 shares of the energy company’s stock worth $100,000 after purchasing an additional 283 shares during the period. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

About Imperial Oil

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.