Imperial Oil (NYSEAMERICAN:IMO) Rating Increased to Buy at StockNews.com

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

Imperial Oil Price Performance

NYSEAMERICAN:IMO opened at $68.05 on Friday. The company has a market cap of $36.46 billion, a price-to-earnings ratio of 10.67 and a beta of 1.47. Imperial Oil has a fifty-two week low of $44.46 and a fifty-two week high of $74.58. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.34 and a quick ratio of 0.96.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last posted its quarterly earnings data on Friday, April 26th. The energy company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.10. The company had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Imperial Oil had a net margin of 9.46% and a return on equity of 20.76%. As a group, equities research analysts anticipate that Imperial Oil will post 6.07 earnings per share for the current year.

Institutional Investors Weigh In On Imperial Oil

Hedge funds have recently added to or reduced their stakes in the business. AdvisorNet Financial Inc increased its stake in Imperial Oil by 52.6% in the fourth quarter. AdvisorNet Financial Inc now owns 522 shares of the energy company’s stock valued at $30,000 after purchasing an additional 180 shares in the last quarter. Hexagon Capital Partners LLC increased its position in Imperial Oil by 84.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 493 shares of the energy company’s stock valued at $34,000 after buying an additional 225 shares in the last quarter. Jones Financial Companies Lllp bought a new position in Imperial Oil in the fourth quarter worth approximately $44,000. Assetmark Inc. grew its stake in Imperial Oil by 938.5% in the fourth quarter. Assetmark Inc. now owns 810 shares of the energy company’s stock valued at $46,000 after acquiring an additional 732 shares during the period. Finally, Allworth Financial LP raised its position in shares of Imperial Oil by 176.6% during the third quarter. Allworth Financial LP now owns 888 shares of the energy company’s stock worth $55,000 after purchasing an additional 567 shares during the period. 20.74% of the stock is currently owned by institutional investors.

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.