JPMorgan Chase & Co. Downgrades Imperial Oil (NYSEAMERICAN:IMO) to Underweight

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

Other research analysts have also issued reports about the stock. StockNews.com lowered shares of Imperial Oil from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Scotiabank restated a “sector perform” rating and issued a $110.00 price target on shares of Imperial Oil in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, Imperial Oil presently has an average rating of “Hold” and a consensus price target of $109.00.

Imperial Oil Stock Down 2.5 %

NYSEAMERICAN:IMO opened at $64.22 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 firm has a market cap of $32.92 billion, a PE ratio of 9.57 and a beta of 1.42. Imperial Oil has a fifty-two week low of $54.58 and a fifty-two week high of $80.17.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Fiera Capital Corp lifted its holdings in Imperial Oil by 262.5% in the 2nd quarter. Fiera Capital Corp now owns 95,455 shares of the energy company’s stock valued at $6,511,000 after purchasing an additional 69,121 shares in the last quarter. Bridgewater Associates LP lifted its stake in shares of Imperial Oil by 522.8% during the third quarter. Bridgewater Associates LP now owns 201,126 shares of the energy company’s stock valued at $14,166,000 after buying an additional 168,831 shares during the period. Ritholtz Wealth Management boosted its position in Imperial Oil by 17.4% during the third quarter. Ritholtz Wealth Management now owns 59,726 shares of the energy company’s stock worth $4,208,000 after acquiring an additional 8,858 shares during the last quarter. National Bank of Canada FI grew its stake in Imperial Oil by 13.3% in the 3rd quarter. National Bank of Canada FI now owns 751,038 shares of the energy company’s stock worth $52,885,000 after acquiring an additional 87,914 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in Imperial Oil by 855.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 35,981 shares of the energy company’s stock valued at $2,534,000 after acquiring an additional 32,214 shares during the last quarter. 20.74% of the stock is owned by hedge funds and other institutional investors.

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.