Imperial Oil (NYSEAMERICAN:IMO) Stock Rating Lowered by The Goldman Sachs Group

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) was downgraded by The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research note issued to investors on Thursday, Marketbeat Ratings reports.

Several other analysts have also commented on the stock. Scotiabank raised shares of Imperial Oil to a “hold” rating in a research note on Wednesday, March 19th. Wolfe Research downgraded Imperial Oil from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Finally, JPMorgan Chase & Co. cut Imperial Oil from a “neutral” rating to an “underweight” rating in a report on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $109.00.

Imperial Oil Trading Down 2.0 %

NYSEAMERICAN IMO opened at $70.84 on Thursday. The stock has a 50-day moving average price of $69.30. Imperial Oil has a 52 week low of $60.95 and a 52 week high of $80.17. The company has a market cap of $36.06 billion, a PE ratio of 10.75 and a beta of 1.44. The company has a current ratio of 1.34, a quick ratio of 1.23 and a debt-to-equity ratio of 0.17.

Institutional Trading of Imperial Oil

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its position in shares of Imperial Oil by 9.1% during the third quarter. Geode Capital Management LLC now owns 842,664 shares of the energy company’s stock worth $59,502,000 after purchasing an additional 70,357 shares during the period. Mediolanum International Funds Ltd raised its holdings in Imperial Oil by 42.8% during the 4th quarter. Mediolanum International Funds Ltd now owns 14,364 shares of the energy company’s stock worth $874,000 after buying an additional 4,308 shares during the period. Bridgewater Associates LP lifted its stake in Imperial Oil by 522.8% in 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 in the last quarter. National Bank of Canada FI boosted its holdings 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 buying an additional 87,914 shares during the period. Finally, BNP Paribas Financial Markets bought a new stake in shares of Imperial Oil during the third quarter worth $28,000. Institutional investors and hedge funds 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.