Imperial Oil Ltd (NYSEMKT:IMO) (TSE:IMO) was downgraded by investment analysts at J P Morgan Chase & Co from a “neutral” rating to an “underweight” rating in a note issued to investors on Thursday, Marketbeat reports. They presently have a $38.00 target price on the energy company’s stock. J P Morgan Chase & Co’s price objective suggests a potential upside of 21.99% from the stock’s previous close.

Several other research firms have also recently commented on IMO. BidaskClub upgraded Imperial Oil from a “hold” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research upgraded Imperial Oil from a “strong sell” rating to a “hold” rating in a research report on Monday, June 19th. Raymond James Financial, Inc. cut Imperial Oil from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 5th. UBS AG cut Imperial Oil from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 5th. Finally, National Bank Financial started coverage on Imperial Oil in a research report on Tuesday, June 27th. They set a “sector perform” rating for the company. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $45.44.

Imperial Oil (NYSEMKT:IMO) traded up 0.13% during mid-day trading on Thursday, hitting $31.15. The stock had a trading volume of 330,881 shares. The company has a market cap of $26.30 billion, a price-to-earnings ratio of 12.26 and a beta of 1.14. The firm’s 50-day moving average is $29.44 and its 200 day moving average is $29.54. Imperial Oil has a 12 month low of $27.59 and a 12 month high of $36.85.

Imperial Oil (NYSEMKT:IMO) (TSE:IMO) last announced its quarterly earnings results on Friday, July 28th. The energy company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.30). The company had revenue of $7.03 billion during the quarter, compared to analysts’ expectations of $8.40 billion. Imperial Oil had a negative net margin of 1.10% and a negative return on equity of 1.23%. Imperial Oil’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.21) earnings per share. Equities analysts anticipate that Imperial Oil will post $0.98 EPS for the current fiscal year.

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A number of hedge funds have recently modified their holdings of the business. Artisan Partners Limited Partnership lifted its stake in Imperial Oil by 24.9% during the second quarter. Artisan Partners Limited Partnership now owns 21,292,920 shares of the energy company’s stock worth $620,660,000 after purchasing an additional 4,243,469 shares during the last quarter. American Century Companies Inc. lifted its stake in Imperial Oil by 4.6% during the second quarter. American Century Companies Inc. now owns 10,464,468 shares of the energy company’s stock worth $305,029,000 after purchasing an additional 455,688 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in Imperial Oil by 9.8% during the second quarter. First Eagle Investment Management LLC now owns 9,319,242 shares of the energy company’s stock worth $271,727,000 after purchasing an additional 831,439 shares during the last quarter. TD Asset Management Inc. lifted its stake in Imperial Oil by 10.2% during the second quarter. TD Asset Management Inc. now owns 8,573,953 shares of the energy company’s stock worth $249,559,000 after purchasing an additional 794,733 shares during the last quarter. Finally, Mawer Investment Management Ltd. lifted its stake in Imperial Oil by 210.3% during the first quarter. Mawer Investment Management Ltd. now owns 8,368,089 shares of the energy company’s stock worth $380,132,000 after purchasing an additional 5,671,213 shares during the last quarter.

About Imperial Oil

Imperial Oil Limited is an integrated oil company. The Company is engaged in all the phases of the petroleum industry in Canada, including exploration for, and production and sale of, crude oil and natural gas. Its operations are conducted in three segments: Upstream, Downstream and Chemical. The Upstream operations include the exploration for, and production of, crude oil, natural gas, synthetic oil and bitumen.

Analyst Recommendations for Imperial Oil (NYSEMKT:IMO)

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