Connor Clark & Lunn Investment Management Ltd. Sells 86,746 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Key Points

• Connor Clark & Lunn Investment Management Ltd. has reduced its stake in Imperial Oil Limited by 4.8%, now holding 1,735,293 shares worth approximately $125.37 million.
• Several analysts have downgraded the stock, with Wolfe Research changing its rating from "outperform" to "peer perform" and Desjardins from "hold" to "strong sell."
• As of the latest figures, Imperial Oil has a market capitalization of $43.43 billion and its stock is rated with a consensus target price of $105.50, indicating a "hold" position.

Connor Clark & Lunn Investment Management Ltd. trimmed its position in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 4.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,735,293 shares of the energy company's stock after selling 86,746 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.34% of Imperial Oil worth $125,370,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Yousif Capital Management LLC purchased a new position in Imperial Oil in the first quarter valued at about $226,000. Bessemer Group Inc. lifted its holdings in Imperial Oil by 198.9% in the first quarter. Bessemer Group Inc. now owns 23,690 shares of the energy company's stock valued at $1,713,000 after acquiring an additional 15,765 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Imperial Oil by 8.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 63,193 shares of the energy company's stock valued at $3,893,000 after acquiring an additional 5,181 shares during the period. Principal Financial Group Inc. raised its stake in shares of Imperial Oil by 7.7% during the 1st 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. Finally, Vise Technologies Inc. raised its stake in shares of Imperial Oil by 70.2% during the 4th quarter. Vise Technologies Inc. now owns 13,002 shares of the energy company's stock worth $801,000 after buying an additional 5,361 shares during the period. 20.74% of the stock is owned by hedge funds and other institutional investors.

Imperial Oil Stock Down 0.0%

NYSEAMERICAN IMO traded down $0.02 during trading on Wednesday, hitting $83.35. 125,578 shares of the company traded hands, compared to its average volume of 457,300. Imperial Oil Limited has a 12 month low of $58.76 and a 12 month high of $86.91. The business has a fifty day simple moving average of $81.21 and a 200 day simple moving average of $72.49. 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 company has a market capitalization of $42.23 billion, a P/E ratio of 12.83 and a beta of 0.92.

Analyst Upgrades and Downgrades

IMO has been the topic of a number of recent analyst reports. Wolfe Research downgraded Imperial Oil from an "outperform" rating to a "peer perform" rating in a report on Wednesday, July 23rd. Desjardins cut Imperial Oil from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 3rd. Raymond James Financial downgraded Imperial Oil from a "moderate buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Tudor Pickering cut Imperial Oil from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Imperial Oil in a research report on Monday, August 4th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" 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.