JPMorgan Chase & Co. Boosts Holdings in Imperial Oil Ltd (IMO)

JPMorgan Chase & Co. boosted its position in Imperial Oil Ltd (NYSEAMERICAN:IMO) (TSE:IMO) by 151.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 427,176 shares of the energy company’s stock after purchasing an additional 257,605 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.05% of Imperial Oil worth $13,827,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Imperial Oil by 8.7% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 907,548 shares of the energy company’s stock valued at $30,171,000 after acquiring an additional 72,469 shares in the last quarter. Virginia Retirement Systems ET AL increased its holdings in shares of Imperial Oil by 14.0% during the second quarter. Virginia Retirement Systems ET AL now owns 154,700 shares of the energy company’s stock valued at $5,139,000 after acquiring an additional 19,000 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Imperial Oil by 5.2% during the second quarter. Bank of New York Mellon Corp now owns 504,841 shares of the energy company’s stock valued at $16,786,000 after acquiring an additional 24,866 shares in the last quarter. Toronto Dominion Bank increased its holdings in shares of Imperial Oil by 78.8% during the second quarter. Toronto Dominion Bank now owns 1,558,572 shares of the energy company’s stock valued at $52,534,000 after acquiring an additional 686,675 shares in the last quarter. Finally, US Bancorp DE increased its holdings in shares of Imperial Oil by 20.0% during the second quarter. US Bancorp DE now owns 10,781 shares of the energy company’s stock valued at $358,000 after acquiring an additional 1,794 shares in the last quarter.

Several equities analysts have recently weighed in on IMO shares. TheStreet downgraded Imperial Oil from a “b-” rating to a “c” rating in a report on Monday, September 17th. CIBC assumed coverage on Imperial Oil in a research report on Friday, October 5th. They set a “sector underperform” rating on the stock. Zacks Investment Research raised Imperial Oil from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research report on Tuesday, October 9th. Tudor Pickering raised Imperial Oil from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Finally, Canaccord Genuity raised Imperial Oil from a “hold” rating to a “buy” rating in a research report on Tuesday, October 16th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. Imperial Oil currently has a consensus rating of “Hold” and a consensus target price of $44.75.

Shares of NYSEAMERICAN:IMO opened at $28.19 on Friday. Imperial Oil Ltd has a 52-week low of $25.91 and a 52-week high of $34.56.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last announced its earnings results on Friday, November 2nd. The energy company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.08. The firm had revenue of $9.73 billion during the quarter, compared to analysts’ expectations of $10.67 billion. The company’s revenue for the quarter was up 36.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 earnings per share.

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

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