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

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

Other equities analysts have also recently issued reports about the company. Raymond James increased their price objective on shares of Imperial Oil from C$101.50 to C$104.00 in a research note on Friday, December 13th. JPMorgan Chase & Co. increased their price objective on Imperial Oil from C$97.00 to C$100.00 in a research note on Wednesday, November 13th. National Bankshares lowered their price objective on Imperial Oil from C$115.00 to C$112.00 in a research report on Friday, September 27th. BMO Capital Markets boosted their target price on shares of Imperial Oil from C$115.00 to C$120.00 in a research report on Friday, October 4th. Finally, Royal Bank of Canada upped their price target on Imperial Oil from C$99.00 to C$101.00 in a report on Wednesday, November 6th. Ten analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of C$103.90.

Imperial Oil Price Performance

Shares of TSE IMO opened at C$90.02 on Friday. The stock has a market capitalization of C$48.24 billion, a P/E ratio of 9.44, a P/E/G ratio of 0.21 and a beta of 1.78. The company has a debt-to-equity ratio of 18.27, a current ratio of 1.40 and a quick ratio of 0.98. The company’s 50-day moving average is C$99.43 and its 200 day moving average is C$98.13. Imperial Oil has a 1 year low of C$73.81 and a 1 year high of C$108.89.

Insider Activity

In related news, Director Bradley William Corson acquired 4,800 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average cost of C$97.44 per share, for a total transaction 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.