Scotiabank Reaffirms “Sector Perform” Rating for Imperial Oil (NYSEAMERICAN:IMO)

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO)‘s stock had its “sector perform” rating restated by stock analysts at Scotiabank in a report issued on Wednesday, Benzinga reports. They presently have a $110.00 target price on the energy company’s stock. Scotiabank’s price target suggests a potential upside of 55.85% from the stock’s current price.

Other equities analysts have also issued reports about the company. Raymond James raised Imperial Oil to a “hold” rating in a report on Tuesday, May 28th. Wolfe Research assumed coverage on Imperial Oil in a research report on Thursday, July 18th. They set an “outperform” rating and a $108.00 target price for the company. Finally, StockNews.com downgraded shares of Imperial Oil from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $99.50.

Imperial Oil Price Performance

Shares of IMO traded down $0.92 during trading hours on Wednesday, reaching $70.58. The stock had a trading volume of 33,310 shares, compared to its average volume of 388,034. The stock has a market cap of $37.30 billion, a P/E ratio of 11.06 and a beta of 1.45. The company has a quick ratio of 1.16, a current ratio of 1.40 and a debt-to-equity ratio of 0.17. Imperial Oil has a 12 month low of $52.97 and a 12 month high of $77.70.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last announced its quarterly earnings results on Friday, August 2nd. The energy company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.11. The business had revenue of $9.78 billion for the quarter, compared to analysts’ expectations of $10.50 billion. Imperial Oil had a net margin of 10.05% and a return on equity of 22.73%. Sell-side analysts anticipate that Imperial Oil will post 6.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Imperial Oil

Several hedge funds have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC increased its position in shares of Imperial Oil by 43.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 2,300 shares of the energy company’s stock valued at $157,000 after purchasing an additional 700 shares during the last quarter. Fiera Capital Corp grew its position in Imperial Oil by 262.5% during the second quarter. Fiera Capital Corp now owns 95,455 shares of the energy company’s stock valued at $6,511,000 after acquiring an additional 69,121 shares during the last quarter. Creative Planning raised its stake in shares of Imperial Oil by 14.5% during the second quarter. Creative Planning now owns 38,305 shares of the energy company’s stock worth $2,614,000 after acquiring an additional 4,843 shares in the last quarter. Kathmere Capital Management LLC lifted its holdings in shares of Imperial Oil by 15.4% in the 2nd quarter. Kathmere Capital Management LLC now owns 4,192 shares of the energy company’s stock worth $286,000 after acquiring an additional 558 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of Imperial Oil by 9.7% in the 2nd quarter. Mackenzie Financial Corp now owns 445,497 shares of the energy company’s stock valued at $30,379,000 after purchasing an additional 39,488 shares in the last quarter. 20.74% of the stock is currently owned by 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.