Connor Clark & Lunn Investment Management Ltd. reduced its stake in shares of Imperial Oil Ltd (NYSEAMERICAN:IMO) (TSE:IMO) by 13.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,571,472 shares of the energy company’s stock after selling 246,203 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Imperial Oil were worth $42,911,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of IMO. BlackRock Inc. boosted 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 purchasing an additional 8,105 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Imperial Oil by 151.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 427,176 shares of the energy company’s stock worth $13,827,000 after purchasing an additional 257,605 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Imperial Oil in the 4th quarter worth about $534,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Imperial Oil by 688.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 407,080 shares of the energy company’s stock worth $10,310,000 after buying an additional 355,437 shares in the last quarter. Finally, Atlas Capital Advisors LLC purchased a new stake in shares of Imperial Oil in the 4th quarter worth about $138,000.
Several equities research analysts recently commented on IMO shares. Credit Suisse Group started coverage on shares of Imperial Oil in a research report on Monday, January 28th. They issued an “underperform” rating and a $27.89 price objective on the stock. Morgan Stanley set a $42.00 price objective on shares of Imperial Oil and gave the stock a “hold” rating in a research report on Tuesday, January 29th. CIBC reiterated a “sell” rating on shares of Imperial Oil in a research report on Saturday, February 2nd. Desjardins reiterated a “hold” rating and issued a $38.00 price objective on shares of Imperial Oil in a research report on Tuesday, February 5th. Finally, Raymond James reiterated an “average” rating and issued a $44.00 price objective on shares of Imperial Oil in a research report on Wednesday, March 20th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company’s stock. Imperial Oil currently has an average rating of “Hold” and a consensus target price of $38.41.
Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last released its earnings results on Friday, April 26th. The energy company reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.09). The business had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8.21 billion. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 EPS.
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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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