StockNews.com Upgrades Imperial Oil (NYSEAMERICAN:IMO) to “Buy”

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Sunday.

Imperial Oil Price Performance

IMO opened at $69.16 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.04 and a debt-to-equity ratio of 0.17. Imperial Oil has a one year low of $44.89 and a one year high of $74.58. The company has a market cap of $37.06 billion, a PE ratio of 10.84 and a beta of 1.47.

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, equities analysts anticipate that Imperial Oil will post 6.07 EPS for the current fiscal year.

Institutional Trading of Imperial Oil

A number of institutional investors and hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its position in shares of 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 in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Imperial Oil by 114.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,371,517 shares of the energy company’s stock worth $209,148,000 after buying an additional 1,801,671 shares during the period. FMR LLC lifted its stake in Imperial Oil by 3.6% in the third quarter. FMR LLC now owns 28,557,885 shares of the energy company’s stock valued at $1,758,993,000 after buying an additional 1,001,847 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Imperial Oil by 27.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,737,291 shares of the energy company’s stock valued at $168,591,000 after buying an additional 589,017 shares during the period. Finally, First Eagle Investment Management LLC increased its position in shares of 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 in the last quarter. 20.74% of the stock is owned by institutional investors.

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.