Imperial Oil (NYSEAMERICAN:IMO) Upgraded at StockNews.com

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

Imperial Oil Stock Down 3.1 %

Shares of NYSEAMERICAN:IMO opened at $68.95 on Monday. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18. Imperial Oil has a 1-year low of $44.46 and a 1-year high of $74.58. The company has a market cap of $36.95 billion, a price-to-earnings ratio of 10.81 and a beta of 1.48.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last released its earnings results on Friday, April 26th. The energy company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.55 by $0.10. Imperial Oil had a net margin of 9.46% and a return on equity of 20.71%. The firm had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $11.61 billion. On average, sell-side analysts anticipate that Imperial Oil will post 6.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Imperial Oil

Several hedge funds have recently modified their holdings of IMO. NewEdge Wealth LLC increased its position in Imperial Oil by 67.0% in the fourth quarter. NewEdge Wealth LLC now owns 29,218 shares of the energy company’s stock worth $1,671,000 after purchasing an additional 11,717 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Imperial Oil by 137.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 88,842 shares of the energy company’s stock worth $5,086,000 after purchasing an additional 51,449 shares during the last quarter. Seven Eight Capital LP bought a new stake in Imperial Oil in the third quarter worth $269,000. Envestnet Asset Management Inc. increased its position in Imperial Oil by 44.0% in the third quarter. Envestnet Asset Management Inc. now owns 95,817 shares of the energy company’s stock worth $5,901,000 after purchasing an additional 29,258 shares during the last quarter. Finally, Cerity Partners LLC bought a new stake in Imperial Oil in the fourth quarter worth $1,745,000. Hedge funds and other institutional investors own 20.74% of the company’s stock.

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.