Erste Asset Management GmbH Takes Position in Imperial Oil Limited $IMO

Key Points

• Erste Asset Management GmbH acquired a new stake in Imperial Oil Limited by purchasing 15,200 shares valued at approximately $1,072,000 in the first quarter.
• Institutional investors collectively own 20.74% of Imperial Oil's shares, with various firms, including TD Asset Management and Mackenzie Financial, increasing their holdings.
• Analysts have mixed ratings for Imperial Oil, with one stock labeled a Buy, five Hold ratings, and three Sell ratings, reflecting a consensus rating of Reduce and a price target of $105.50.

Erste Asset Management GmbH bought a new stake in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 15,200 shares of the energy company's stock, valued at approximately $1,072,000.

A number of other large investors have also modified their holdings of the stock. TD Asset Management Inc increased its holdings in Imperial Oil by 1.0% in the first quarter. TD Asset Management Inc now owns 4,873,843 shares of the energy company's stock valued at $352,014,000 after buying an additional 47,898 shares during the last quarter. Bank of America Corp DE raised its position in shares of Imperial Oil by 1.1% during the 4th quarter. Bank of America Corp DE now owns 2,398,899 shares of the energy company's stock worth $147,772,000 after purchasing an additional 26,891 shares during the last quarter. Mackenzie Financial Corp grew its stake in 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 acquiring an additional 243,894 shares during the period. Bank of Nova Scotia grew its stake in shares of Imperial Oil by 0.7% during the 1st quarter. Bank of Nova Scotia now owns 574,221 shares of the energy company's stock valued at $41,485,000 after buying an additional 3,773 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Imperial Oil by 2.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 534,265 shares of the energy company's stock valued at $38,588,000 after acquiring an additional 11,543 shares in the last quarter. Hedge funds and other institutional investors own 20.74% of the company's stock.

Analyst Upgrades and Downgrades

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

Imperial Oil Price Performance

Shares of IMO stock traded up $1.04 during trading on Wednesday, hitting $88.83. The company had a trading volume of 76,898 shares, compared to its average volume of 448,107. The company has a quick ratio of 1.34, a current ratio of 1.58 and a debt-to-equity ratio of 0.16. The stock's 50-day moving average is $82.78 and its two-hundred day moving average is $73.97. The stock has a market capitalization of $45.00 billion, a price-to-earnings ratio of 13.70 and a beta of 0.92. Imperial Oil Limited has a 52 week low of $58.76 and a 52 week high of $89.09.

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.