The Manufacturers Life Insurance Company decreased its holdings in shares of Imperial Oil Ltd (NYSEAMERICAN:IMO) (TSE:IMO) by 17.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,223,974 shares of the energy company’s stock after selling 250,942 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.15% of Imperial Oil worth $39,620,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wolverine Asset Management LLC acquired a new stake in shares of Imperial Oil during the 2nd quarter worth about $166,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Imperial Oil during the 2nd quarter worth approximately $229,000. Fruth Investment Management acquired a new stake in shares of Imperial Oil during the 3rd quarter worth approximately $246,000. Tower Research Capital LLC TRC grew its position in shares of Imperial Oil by 260.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,383 shares of the energy company’s stock worth $279,000 after buying an additional 6,060 shares during the period. Finally, BlackRock Inc. grew its position in shares of Imperial Oil by 506.6% during the 3rd quarter. BlackRock Inc. now owns 9,705 shares of the energy company’s stock worth $314,000 after buying an additional 8,105 shares during the period.
IMO traded up $0.07 during trading on Thursday, reaching $26.78. 387,230 shares of the stock were exchanged, compared to its average volume of 463,210. Imperial Oil Ltd has a twelve month low of $24.29 and a twelve month high of $34.56.
Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last released its quarterly earnings data on Friday, November 2nd. The energy company reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.08. The company had revenue of $9.73 billion during the quarter, compared to analyst estimates of $10.67 billion. Imperial Oil’s revenue for the quarter was up 36.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 earnings per share.
Several research analysts recently weighed in on IMO shares. TheStreet lowered shares of Imperial Oil from a “b-” rating to a “c” rating in a research note on Monday, September 17th. Zacks Investment Research lowered shares of Imperial Oil from a “buy” rating to a “hold” rating in a research note on Thursday, November 15th. CIBC reaffirmed a “sell” rating on shares of Imperial Oil in a research note on Thursday, November 8th. Tudor Pickering raised shares of Imperial Oil from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. Finally, BMO Capital Markets reaffirmed an “average” rating and issued a $48.00 price target on shares of Imperial Oil in a research note on Thursday, November 8th. Two 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 an average rating of “Hold” and a consensus price target of $43.20.
Imperial Oil Profile
Imperial Oil Limited explores for, produces, and sells crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream, and Chemical. The Upstream segment explores for and produces crude oil, natural gas, synthetic oil, and bitumen. As of December 31, 2017, this segment had 450 million oil-equivalent barrels of proved undeveloped reserves.
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