Imperial Oil (NYSEAMERICAN:IMO) Price Target Cut to $110.00 by Analysts at Scotiabank

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) had its price target decreased by investment analysts at Scotiabank from $111.00 to $110.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “sector outperform” rating on the energy company’s stock. Scotiabank’s target price points to a potential upside of 56.16% from the company’s previous close.

A number of other research firms have also recently issued reports on IMO. Raymond James raised Imperial Oil to a “hold” rating in a research note on Tuesday, May 28th. StockNews.com cut Imperial Oil from a “buy” rating to a “hold” rating in a research report on Monday, July 1st. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $91.50.

Imperial Oil Stock Up 0.4 %

NYSEAMERICAN IMO traded up $0.29 on Friday, hitting $70.44. 327,440 shares of the company were exchanged, compared to its average volume of 392,693. The company has a quick ratio of 1.04, a current ratio of 1.34 and a debt-to-equity ratio of 0.17. The company has a market cap of $37.74 billion, a price-to-earnings ratio of 11.04 and a beta of 1.47. Imperial Oil has a 1-year low of $48.26 and a 1-year high of $74.58.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last announced its quarterly earnings data on Friday, April 26th. The energy company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.10. Imperial Oil had a return on equity of 20.76% and a net margin of 9.46%. The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $11.61 billion. On average, research analysts expect that Imperial Oil will post 6.25 earnings per share for the current fiscal year.

Institutional Trading of Imperial Oil

Several hedge funds have recently modified their holdings of IMO. First Eagle Investment Management LLC lifted its holdings in Imperial Oil by 1.4% during the fourth quarter. First Eagle Investment Management LLC now owns 22,495,313 shares of the energy company’s stock worth $1,281,608,000 after acquiring an additional 316,009 shares during the period. Vanguard Group Inc. lifted its holdings in Imperial Oil by 1.1% during the third quarter. Vanguard Group Inc. now owns 6,632,262 shares of the energy company’s stock valued at $408,481,000 after purchasing an additional 70,144 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Imperial Oil by 95.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 6,597,474 shares of the energy company’s stock worth $376,421,000 after purchasing an additional 3,225,957 shares during the period. TD Asset Management Inc boosted its position in Imperial Oil by 201.0% during the first quarter. TD Asset Management Inc now owns 3,384,060 shares of the energy company’s stock worth $233,640,000 after purchasing an additional 2,259,766 shares during the period. Finally, Point72 Asset Management L.P. lifted its stake in shares of Imperial Oil by 35.6% during the 4th quarter. Point72 Asset Management L.P. now owns 1,120,229 shares of the energy company’s stock valued at $63,913,000 after buying an additional 293,910 shares in the last quarter. Institutional investors own 20.74% of the company’s stock.

Imperial Oil Company Profile

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.