Charles Schwab Investment Management Inc. Boosts Stock Holdings in Imperial Oil Limited $IMO

Charles Schwab Investment Management Inc. raised its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 2.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 534,265 shares of the energy company's stock after purchasing an additional 11,543 shares during the period. Charles Schwab Investment Management Inc. owned 0.10% of Imperial Oil worth $38,588,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in IMO. ASR Vermogensbeheer N.V. purchased a new position in shares of Imperial Oil in the 1st quarter worth approximately $5,059,000. Bank of Nova Scotia grew its position in shares of Imperial Oil by 0.7% in the 1st quarter. Bank of Nova Scotia now owns 574,221 shares of the energy company's stock worth $41,485,000 after buying an additional 3,773 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Imperial Oil by 0.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 193,950 shares of the energy company's stock worth $14,026,000 after buying an additional 1,522 shares during the last quarter. IFG Advisory LLC grew its position in shares of Imperial Oil by 16.6% in the 1st quarter. IFG Advisory LLC now owns 32,223 shares of the energy company's stock worth $2,330,000 after buying an additional 4,581 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of Imperial Oil by 54.7% in the 1st quarter. Mackenzie Financial Corp now owns 690,024 shares of the energy company's stock worth $49,842,000 after buying an additional 243,894 shares during the last quarter. Hedge funds and other institutional investors own 20.74% of the company's stock.

Imperial Oil Stock Performance

Shares of NYSEAMERICAN IMO opened at $83.60 on Monday. The company has a current ratio of 1.58, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16. Imperial Oil Limited has a 12 month low of $58.76 and a 12 month high of $86.91. The company has a 50 day simple moving average of $81.84 and a two-hundred day simple moving average of $73.04. The stock has a market cap of $42.35 billion, a price-to-earnings ratio of 12.88 and a beta of 0.92.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IMO. BMO Capital Markets reaffirmed an "outperform" rating on shares of Imperial Oil in a research report on Monday, August 4th. Raymond James Financial cut shares of Imperial Oil from a "moderate buy" rating to a "hold" rating in a research note on Thursday, July 3rd. Tudor Pickering cut shares of Imperial Oil from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Wolfe Research cut shares of Imperial Oil from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, July 23rd. Finally, Desjardins cut shares of Imperial Oil from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 3rd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Imperial Oil currently has an average rating of "Hold" and a consensus price target 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.

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