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

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO)‘s stock had its “sector perform” rating reiterated by analysts at Royal Bank of Canada in a research report issued on Thursday,Benzinga reports. They presently have a $101.00 price objective on the energy company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 59.13% from the stock’s previous close.

Several other equities analysts also recently issued reports on the stock. Wolfe Research downgraded shares of Imperial Oil from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Scotiabank upgraded Imperial Oil to a “hold” rating in a research report on Wednesday, March 19th. JPMorgan Chase & Co. downgraded shares of Imperial Oil from a “neutral” rating to an “underweight” rating in a research report on Thursday, December 19th. Finally, 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. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, Imperial Oil has a consensus rating of “Hold” and an average price target of $106.33.

Imperial Oil Stock Down 7.5 %

Shares of IMO opened at $63.47 on Thursday. The company has a current ratio of 1.34, a quick ratio of 1.23 and a debt-to-equity ratio of 0.17. The firm has a market cap of $32.31 billion, a PE ratio of 9.63 and a beta of 1.44. Imperial Oil has a 12-month low of $60.95 and a 12-month high of $80.17. The stock has a 50-day moving average price of $69.57.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of IMO. Geode Capital Management LLC increased its holdings in Imperial Oil by 9.1% in the 3rd quarter. Geode Capital Management LLC now owns 842,664 shares of the energy company’s stock worth $59,502,000 after acquiring an additional 70,357 shares during the last quarter. Mediolanum International Funds Ltd increased its stake in shares of Imperial Oil by 42.8% in the fourth quarter. Mediolanum International Funds Ltd now owns 14,364 shares of the energy company’s stock worth $874,000 after purchasing an additional 4,308 shares in the last quarter. National Bank of Canada FI raised its position in shares of Imperial Oil by 13.3% in the third quarter. National Bank of Canada FI now owns 751,038 shares of the energy company’s stock valued at $52,885,000 after purchasing an additional 87,914 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of Imperial Oil during the 3rd quarter valued at approximately $28,000. Finally, Barclays PLC boosted its holdings in Imperial Oil by 27.8% in the 3rd quarter. Barclays PLC now owns 2,838 shares of the energy company’s stock worth $200,000 after buying an additional 617 shares during the period. Institutional investors own 20.74% of the company’s stock.

Imperial Oil Company Profile

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.