Imperial Oil (NYSEAMERICAN:IMO) Rating Lowered to Underweight at JPMorgan Chase & Co.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) was downgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a note issued to investors on Thursday, MarketBeat reports.

A number of other equities analysts also recently issued reports on the company. Scotiabank reiterated a “sector perform” rating and set a $110.00 price target on shares of Imperial Oil in a research report on Wednesday, September 25th. StockNews.com cut shares of Imperial Oil from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $109.00.

Imperial Oil Stock Down 1.2 %

Shares of NYSEAMERICAN IMO opened at $61.73 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.23 and a current ratio of 1.44. The company has a market cap of $31.64 billion, a PE ratio of 9.20 and a beta of 1.42. Imperial Oil has a 12 month low of $54.58 and a 12 month high of $80.17.

Institutional Trading of Imperial Oil

Institutional investors have recently made changes to their positions in the company. RFP Financial Group LLC acquired a new position in Imperial Oil in the second quarter valued at about $25,000. BNP Paribas Financial Markets acquired a new position in shares of Imperial Oil in the 3rd quarter worth approximately $28,000. Grove Bank & Trust boosted its position in shares of Imperial Oil by 438.0% during the 3rd quarter. Grove Bank & Trust now owns 538 shares of the energy company’s stock worth $38,000 after purchasing an additional 438 shares during the period. Allworth Financial LP increased its holdings in Imperial Oil by 21.0% in the 3rd quarter. Allworth Financial LP now owns 1,347 shares of the energy company’s stock valued at $95,000 after purchasing an additional 234 shares during the last quarter. Finally, Oakworth Capital Inc. purchased a new stake in Imperial Oil in the third quarter valued at approximately $101,000. Hedge funds and other institutional investors own 20.74% of the company’s stock.

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.