Imperial Oil (TSE:IMO) Downgraded by Wolfe Research to “Hold”

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) was downgraded by research analysts at Wolfe Research from a “strong-buy” rating to a “hold” rating in a report released on Friday,Zacks.com reports.

A number of other research firms have also commented on IMO. Royal Bank of Canada raised their price objective on Imperial Oil from C$99.00 to C$101.00 in a research note on Wednesday, November 6th. JPMorgan Chase & Co. increased their price objective on shares of Imperial Oil from C$97.00 to C$100.00 in a research note on Wednesday, November 13th. TD Securities boosted their price target on Imperial Oil from C$93.00 to C$96.00 and gave the stock a “hold” rating in a report on Friday, December 13th. National Bankshares reduced their price objective on shares of Imperial Oil from C$115.00 to C$112.00 in a research note on Friday, September 27th. Finally, Raymond James increased their target price on shares of Imperial Oil from C$101.50 to C$104.00 in a research report on Friday, December 13th. Ten analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$103.90.

Imperial Oil Stock Performance

Shares of TSE IMO opened at C$90.02 on Friday. Imperial Oil has a one year low of C$73.81 and a one year high of C$108.89. The firm has a market cap of C$48.24 billion, a price-to-earnings ratio of 9.44, a P/E/G ratio of 0.21 and a beta of 1.78. The stock’s fifty day moving average price is C$99.14 and its two-hundred day moving average price is C$98.14. The company has a debt-to-equity ratio of 18.27, a current ratio of 1.40 and a quick ratio of 0.98.

Insider Buying and Selling at Imperial Oil

In other news, Director Bradley William Corson acquired 4,800 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were purchased at an average cost of C$97.44 per share, with a total value of C$467,713.92. Insiders own 71.26% of the company’s stock.

Imperial Oil Company Profile

Imperial Oil is one of Canada’s largest integrated oil companies, focusing on upstream operations, petroleum refining operations, and the marketing of petroleum products. Production averaged 398 thousand barrels of oil equivalent per day in 2020. The company estimates that it holds 5.2 billion boe of proved and probable crude oil and natural gas reserves.