Nuveen LLC Invests $13.67 Million in Imperial Oil Limited $IMO

Key Points

• Nuveen LLC has acquired a significant position in Imperial Oil Limited, purchasing 189,314 shares valued at approximately $13.67 million in the first quarter of the year.
• Several other institutional investors have also made moves regarding their stakes, with some increasing their holdings impressively, like GAMMA Investing LLC, which raised its stake by 7,136.4%.
• Analyst ratings have seen a decline, with multiple firms lowering their forecasts for Imperial Oil, leading to a consensus rating of "Reduce" and an average target price of $105.50.

Nuveen LLC purchased a new position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 189,314 shares of the energy company's stock, valued at approximately $13,673,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Yousif Capital Management LLC bought a new stake in Imperial Oil during the first quarter worth about $226,000. Bessemer Group Inc. increased its holdings in shares of Imperial Oil by 198.9% in the first quarter. Bessemer Group Inc. now owns 23,690 shares of the energy company's stock worth $1,713,000 after buying an additional 15,765 shares during the period. LPL Financial LLC increased its holdings in shares of Imperial Oil by 68.6% in the first quarter. LPL Financial LLC now owns 79,692 shares of the energy company's stock worth $5,763,000 after buying an additional 32,437 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Imperial Oil by 8.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 63,193 shares of the energy company's stock worth $3,893,000 after buying an additional 5,181 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in shares of Imperial Oil by 7.7% in the first quarter. Principal Financial Group Inc. now owns 16,796 shares of the energy company's stock worth $1,213,000 after buying an additional 1,200 shares during the period. Institutional investors own 20.74% of the company's stock.

Imperial Oil Stock Up 2.3%

Shares of IMO stock traded up $2.03 during midday trading on Wednesday, reaching $89.82. 297,030 shares of the stock were exchanged, compared to its average volume of 360,736. Imperial Oil Limited has a 1 year low of $58.76 and a 1 year high of $89.84. The company's 50 day moving average is $82.96 and its two-hundred day moving average is $74.10. The company has a current ratio of 1.58, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16. The firm has a market cap of $45.50 billion, a PE ratio of 13.84 and a beta of 0.92.

Analyst Ratings Changes

IMO has been the topic of several analyst reports. Desjardins downgraded Imperial Oil from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 3rd. BMO Capital Markets reiterated an "outperform" rating on shares of Imperial Oil in a report on Monday, August 4th. Raymond James Financial downgraded Imperial Oil from a "moderate buy" rating to a "hold" rating in a report on Thursday, July 3rd. Wolfe Research downgraded Imperial Oil from an "outperform" rating to a "peer perform" rating in a report on Wednesday, July 23rd. Finally, Tudor Pickering downgraded Imperial Oil from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of $105.50.

About Imperial Oil

Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment transports and refines crude oil, blends refined products, and distributes and markets of refined products.