Corient IA LLC Acquires Shares of 5,000 Imperial Oil Limited $IMO

Key Points

• Corient IA LLC invested approximately $362,000 in Imperial Oil Limited, acquiring 5,000 shares during the first quarter of 2023.
• Several institutional investors, including Nuveen LLC and Cresset Asset Management LLC, have also recently modified their holdings in Imperial Oil, reflecting a growing interest in the company's stock.
• The average analyst rating for Imperial Oil is currently "Hold", with a consensus price target of $105.50, indicating mixed sentiments among research analysts.

Corient IA LLC bought a new stake in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 5,000 shares of the energy company's stock, valued at approximately $362,000.

Other hedge funds have also bought and sold shares of the company. Wayfinding Financial LLC acquired a new stake in Imperial Oil in the 1st quarter valued at about $26,000. Group One Trading LLC lifted its stake in Imperial Oil by 29.7% in the 4th quarter. Group One Trading LLC now owns 755 shares of the energy company's stock valued at $47,000 after purchasing an additional 173 shares during the last quarter. Continuum Advisory LLC acquired a new stake in Imperial Oil in the 1st quarter valued at about $71,000. AdvisorNet Financial Inc lifted its stake in Imperial Oil by 104.0% in the 1st quarter. AdvisorNet Financial Inc now owns 1,275 shares of the energy company's stock valued at $92,000 after purchasing an additional 650 shares during the last quarter. Finally, Pacifica Partners Inc. lifted its stake in Imperial Oil by 141.1% in the 1st quarter. Pacifica Partners Inc. now owns 2,440 shares of the energy company's stock valued at $167,000 after purchasing an additional 1,428 shares during the last quarter. 20.74% of the stock is currently owned by institutional investors and hedge funds.

Imperial Oil Price Performance

Shares of NYSEAMERICAN IMO traded up $2.95 during midday trading on Friday, reaching $87.37. The company's stock had a trading volume of 492,653 shares, compared to its average volume of 366,837. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.34 and a current ratio of 1.58. Imperial Oil Limited has a fifty-two week low of $58.76 and a fifty-two week high of $87.37. The business's 50 day moving average price is $82.53 and its two-hundred day moving average price is $73.64. The company has a market cap of $44.26 billion, a P/E ratio of 13.46 and a beta of 0.92.

Wall Street Analyst Weigh In

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

Imperial Oil Company Profile

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.