Imperial Oil (NYSEAMERICAN:IMO) Stock Rating Reaffirmed by Scotiabank

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO)‘s stock had its “sector perform” rating reiterated by research analysts at Scotiabank in a research note issued on Wednesday, Marketbeat Ratings reports. They currently have a $110.00 price target on the energy company’s stock. Scotiabank’s price target would indicate a potential upside of 60.16% from the company’s current price.

Other research analysts have also recently issued reports about the company. Raymond James raised Imperial Oil to a “hold” rating in a report on Tuesday, May 28th. Wolfe Research initiated coverage on shares of Imperial Oil in a research report on Thursday, July 18th. They issued an “outperform” rating and a $108.00 price objective for the company. Finally, StockNews.com cut Imperial Oil from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Imperial Oil currently has a consensus rating of “Hold” and a consensus price target of $99.50.

Imperial Oil Price Performance

Shares of NYSEAMERICAN IMO opened at $68.68 on Wednesday. Imperial Oil has a 52-week low of $52.97 and a 52-week high of $77.70. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.40 and a quick ratio of 1.16. The firm has a market cap of $36.29 billion, a price-to-earnings ratio of 10.76 and a beta of 1.45.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last released its quarterly earnings results on Friday, August 2nd. The energy company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.11. The firm had revenue of $9.78 billion for the quarter, compared to analyst estimates of $10.50 billion. Imperial Oil had a net margin of 10.05% and a return on equity of 22.73%. As a group, equities analysts forecast that Imperial Oil will post 6.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Imperial Oil

Several hedge funds have recently bought and sold shares of the company. Manning & Napier Advisors LLC acquired a new stake in Imperial Oil during the 2nd quarter worth approximately $3,064,000. US Bancorp DE grew its holdings in shares of Imperial Oil by 91.6% during the first quarter. US Bancorp DE now owns 20,210 shares of the energy company’s stock worth $1,397,000 after buying an additional 9,660 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Imperial Oil in the 1st quarter valued at approximately $720,000. Fiera Capital Corp lifted its stake 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 acquiring an additional 69,121 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in Imperial Oil by 1,250.9% during the 1st quarter. Bessemer Group Inc. now owns 7,849 shares of the energy company’s stock worth $542,000 after acquiring an additional 7,268 shares during the last quarter. 20.74% of the stock is currently owned by institutional investors and hedge funds.

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.