Imperial Oil (NYSEAMERICAN:IMO – Get Free Report) (TSE:IMO) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.
Several other research firms have also recently weighed in on IMO. Scotiabank reissued a “sector perform” rating on shares of Imperial Oil in a research report on Friday, July 17th. Imperial Capital reaffirmed a “sell” rating on shares of Imperial Oil in a research report on Tuesday, June 23rd. TD Securities reiterated a “sell” rating on shares of Imperial Oil in a research note on Wednesday, August 5th. Finally, Desjardins raised shares of Imperial Oil to a “hold” rating in a report on Thursday, July 16th. Four analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Strong Sell” and an average target price of $116.00.
View Our Latest Analysis on IMO
Imperial Oil Stock Performance
Institutional Trading of Imperial Oil
Institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC grew its position in Imperial Oil by 5.0% in the first quarter. AQR Capital Management LLC now owns 34,218 shares of the energy company’s stock valued at $2,475,000 after acquiring an additional 1,627 shares during the period. NewEdge Advisors LLC raised its stake in Imperial Oil by 54.7% during the first quarter. NewEdge Advisors LLC now owns 11,887 shares of the energy company’s stock worth $860,000 after acquiring an additional 4,201 shares in the last quarter. Focus Partners Wealth bought a new position in shares of Imperial Oil during the first quarter valued at $200,000. Cetera Investment Advisers lifted its holdings in shares of Imperial Oil by 6.8% during the second quarter. Cetera Investment Advisers now owns 4,569 shares of the energy company’s stock valued at $363,000 after acquiring an additional 291 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Imperial Oil by 4.7% in the 2nd quarter. Invesco Ltd. now owns 354,865 shares of the energy company’s stock valued at $28,205,000 after purchasing an additional 15,834 shares in the last quarter. Institutional investors and hedge funds own 20.74% of the company’s stock.
About Imperial Oil
Imperial Oil (NYSEAMERICAN: IMO) is a Canadian integrated energy company involved in the exploration, production, refining and marketing of petroleum and petrochemical products. Headquartered in Calgary, Alberta, Imperial has operated in Canada for well over a century and is one of the country’s long-standing energy firms. The company is majority-owned by Exxon Mobil Corporation, which provides strategic and technical links to global upstream and downstream capabilities.
Imperial’s operations span upstream activities—exploration and production of crude oil, natural gas and oil-sands resources—and downstream operations including refining, manufacturing of fuels and lubricants, petrochemical products, and retail distribution.
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