Bank of Nova Scotia Trust Co. Buys 82,610 Shares of Imperial Oil Ltd (IMO)

Bank of Nova Scotia Trust Co. raised its stake in Imperial Oil Ltd (NYSEAMERICAN:IMO) (TSE:IMO) by 390.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 103,771 shares of the energy company’s stock after acquiring an additional 82,610 shares during the period. Bank of Nova Scotia Trust Co.’s holdings in Imperial Oil were worth $2,627,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Atlas Capital Advisors LLC bought a new position in shares of Imperial Oil during the fourth quarter valued at $138,000. Quadrant Capital Group LLC lifted its holdings in shares of Imperial Oil by 879.6% during the fourth quarter. Quadrant Capital Group LLC now owns 6,446 shares of the energy company’s stock valued at $157,000 after purchasing an additional 5,788 shares in the last quarter. AlphaCrest Capital Management LLC bought a new position in shares of Imperial Oil during the fourth quarter valued at $220,000. Creative Planning lifted its holdings in shares of Imperial Oil by 45.4% during the fourth quarter. Creative Planning now owns 9,134 shares of the energy company’s stock valued at $231,000 after purchasing an additional 2,852 shares in the last quarter. Finally, Cidel Asset Management Inc. lifted its holdings in shares of Imperial Oil by 7.1% during the fourth quarter. Cidel Asset Management Inc. now owns 10,100 shares of the energy company’s stock valued at $256,000 after purchasing an additional 667 shares in the last quarter.

IMO stock opened at $27.10 on Friday. Imperial Oil Ltd has a fifty-two week low of $24.29 and a fifty-two week high of $34.56.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last issued its quarterly earnings results on Friday, February 1st. The energy company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.24. The company had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $8.89 billion. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.16) EPS.

A number of research analysts have weighed in on IMO shares. Zacks Investment Research downgraded Imperial Oil from a “buy” rating to a “hold” rating in a report on Thursday, November 29th. AltaCorp Capital downgraded Imperial Oil from a “sector perform” rating to an “underperform” rating in a report on Monday, January 7th. TD Securities reissued a “hold” rating on shares of Imperial Oil in a report on Thursday, November 8th. BMO Capital Markets reissued an “average” rating and issued a $48.00 target price on shares of Imperial Oil in a report on Thursday, November 8th. Finally, Morgan Stanley set a $42.00 target price on Imperial Oil and gave the company a “hold” rating in a report on Tuesday, January 29th. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $38.15.

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Imperial Oil Company 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.

See Also: Liquidity

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Institutional Ownership by Quarter for Imperial Oil (NYSEAMERICAN:IMO)



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