AustralianSuper Pty Ltd Decreases Stock Position in Imperial Oil Limited $IMO

AustralianSuper Pty Ltd decreased its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 35.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 143,507 shares of the energy company’s stock after selling 79,367 shares during the period. AustralianSuper Pty Ltd’s holdings in Imperial Oil were worth $13,009,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of IMO. IMG Wealth Management Inc. purchased a new stake in Imperial Oil during the 2nd quarter worth approximately $28,000. MAI Capital Management raised its stake in Imperial Oil by 2,275.0% in the 2nd quarter. MAI Capital Management now owns 380 shares of the energy company’s stock worth $30,000 after acquiring an additional 364 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Imperial Oil by 9.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,472 shares of the energy company’s stock worth $196,000 after acquiring an additional 206 shares during the period. Focus Partners Wealth purchased a new stake in Imperial Oil during the 1st quarter valued at about $200,000. Finally, Captrust Financial Advisors acquired a new position in shares of Imperial Oil in the second quarter valued at about $207,000. 20.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IMO has been the subject of a number of research reports. Zacks Research downgraded Imperial Oil from a “strong-buy” rating to a “hold” rating in a report on Friday, October 3rd. BMO Capital Markets cut shares of Imperial Oil from an “outperform” rating to a “market perform” rating in a research note on Monday, December 15th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Imperial Oil in a research note on Wednesday, November 5th. Cibc World Mkts lowered shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Finally, Raymond James Financial downgraded Imperial Oil from a “hold” rating to a “strong sell” rating in a research report on Monday, December 8th. Six analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $115.00.

Imperial Oil Trading Up 2.2%

Shares of Imperial Oil stock opened at $105.71 on Friday. Imperial Oil Limited has a fifty-two week low of $58.76 and a fifty-two week high of $106.64. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.17 and a current ratio of 1.47. The company has a market cap of $51.12 billion, a P/E ratio of 19.05 and a beta of 0.70. The firm has a 50-day simple moving average of $92.93 and a two-hundred day simple moving average of $90.23.

Imperial Oil Profile

Imperial Oil (NYSEAMERICAN: IMO) is a Canadian integrated energy company involved in the exploration, production, refining and marketing of petroleum and petrochemical products. Headquartered in Calgary, Alberta, Imperial has operated in Canada for well over a century and is one of the country’s long-standing energy firms. The company is majority-owned by Exxon Mobil Corporation, which provides strategic and technical links to global upstream and downstream capabilities.

Imperial’s operations span upstream activities—exploration and production of crude oil, natural gas and oil-sands resources—and downstream operations including refining, manufacturing of fuels and lubricants, petrochemical products, and retail distribution.