Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) had its price objective dropped by investment analysts at Morgan Stanley from $42.00 to $40.00 in a report released on Wednesday. The brokerage currently has an “underweight” rating on the energy company’s stock. Morgan Stanley’s price objective suggests a potential upside of 26.18% from the stock’s current price.
Other equities research analysts also recently issued reports about the stock. Canaccord Genuity reiterated a “hold” rating and set a $45.00 price objective on shares of Imperial Oil in a research note on Thursday, November 2nd. Barclays downgraded shares of Imperial Oil from an “overweight” rating to an “underweight” rating in a research note on Thursday, November 2nd. Royal Bank of Canada downgraded shares of Imperial Oil from a “sector perform” rating to an “underperform” rating in a research note on Thursday, November 2nd. TheStreet upgraded shares of Imperial Oil from a “c” rating to a “b-” rating in a research note on Friday, October 27th. Finally, Tudor Pickering upgraded shares of Imperial Oil to a “hold” rating in a research note on Monday, January 8th. Six investment analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. The company presently has an average rating of “Hold” and an average price target of $41.20.
Imperial Oil (NYSEAMERICAN IMO) traded up $0.05 during trading hours on Wednesday, reaching $31.70. 219,695 shares of the company were exchanged, compared to its average volume of 295,979. Imperial Oil has a 1-year low of $27.59 and a 1-year high of $33.60. The company has a market capitalization of $26,480.00, a price-to-earnings ratio of 16.01 and a beta of 0.88.
Institutional investors and hedge funds have recently bought and sold shares of the company. Roberts Glore & Co. Inc. IL acquired a new stake in shares of Imperial Oil in the 3rd quarter valued at approximately $202,000. Rathbone Brothers plc acquired a new stake in shares of Imperial Oil in the 3rd quarter valued at approximately $214,000. Ameriprise Financial Inc. boosted its stake in shares of Imperial Oil by 12.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,222 shares of the energy company’s stock valued at $241,000 after purchasing an additional 900 shares in the last quarter. Virtu KCG Holdings LLC boosted its stake in shares of Imperial Oil by 9.7% in the 2nd quarter. Virtu KCG Holdings LLC now owns 9,207 shares of the energy company’s stock valued at $268,000 after purchasing an additional 817 shares in the last quarter. Finally, Americafirst Capital Management LLC acquired a new stake in shares of Imperial Oil in the 3rd quarter valued at approximately $314,000.
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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.
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