Huntington National Bank raised its stake in shares of Imperial Oil Ltd (NYSEAMERICAN:IMO) (TSE:IMO) by 29.6% during the 3rd quarter, Holdings Channel reports. The fund owned 5,040 shares of the energy company’s stock after purchasing an additional 1,151 shares during the period. Huntington National Bank’s holdings in Imperial Oil were worth $131,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in IMO. USS Investment Management Ltd acquired a new stake in shares of Imperial Oil in the 2nd quarter worth $25,965,000. Caymus Capital Partners L.P. acquired a new stake in shares of Imperial Oil in the 2nd quarter worth $14,829,000. JPMorgan Chase & Co. boosted its position in shares of Imperial Oil by 74.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 943,982 shares of the energy company’s stock worth $25,874,000 after purchasing an additional 403,439 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of Imperial Oil by 25.7% in the 2nd quarter. Mackenzie Financial Corp now owns 1,947,123 shares of the energy company’s stock worth $53,877,000 after purchasing an additional 397,681 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Imperial Oil by 2.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 11,043,637 shares of the energy company’s stock worth $305,577,000 after purchasing an additional 300,920 shares in the last quarter.
A number of equities analysts recently issued reports on IMO shares. AltaCorp Capital lowered Imperial Oil from a “sector perform” rating to an “underperform” rating in a research note on Friday, October 11th. CIBC upgraded Imperial Oil to a “hold” rating and set a $38.00 target price for the company in a research note on Friday, November 1st. Morgan Stanley reduced their target price on Imperial Oil from $39.00 to $38.00 in a research note on Wednesday, October 23rd. Royal Bank of Canada set a $37.00 target price on Imperial Oil and gave the stock a “hold” rating in a research note on Friday, October 18th. Finally, Citigroup lowered Imperial Oil from a “neutral” rating to a “sell” rating in a research note on Monday, October 7th. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. Imperial Oil presently has an average rating of “Hold” and a consensus target price of $36.59.
Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last issued its earnings results on Friday, November 1st. The energy company reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.02). The company had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.69 billion.
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.
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