Imperial Oil Limited $IMO Shares Purchased by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio more than doubled its Imperial Oil position in the first quarter, increasing holdings by 120.5% to 26,759 shares valued at approximately $3.5 million.
• Several other institutional investors also raised their stakes, including UBS Group, which increased its holdings by 21.6% to more than 1.7 million shares. Institutional investors collectively own 20.74% of Imperial Oil.
• Analyst sentiment remains cautious: Imperial Oil has a consensus “Reduce” rating and a $116 target price, despite its stock opening at $128.80 and trading within a 12-month range of $81.87 to $139.44.

Public Employees Retirement System of Ohio increased its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 120.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 26,759 shares of the energy company's stock after buying an additional 14,624 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Imperial Oil were worth $3,497,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC lifted its position in shares of Imperial Oil by 72.9% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 41,858 shares of the energy company's stock worth $3,625,000 after purchasing an additional 17,643 shares during the period. NewEdge Wealth LLC increased its position in shares of Imperial Oil by 15.6% during the first quarter. NewEdge Wealth LLC now owns 87,203 shares of the energy company's stock worth $11,408,000 after buying an additional 11,737 shares during the period. UBS Group AG raised its stake in Imperial Oil by 21.6% during the fourth quarter. UBS Group AG now owns 1,709,910 shares of the energy company's stock worth $147,582,000 after buying an additional 303,286 shares during the last quarter. Triasima Portfolio Management inc. raised its stake in Imperial Oil by 17.6% during the fourth quarter. Triasima Portfolio Management inc. now owns 83,975 shares of the energy company's stock worth $7,264,000 after buying an additional 12,570 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Imperial Oil by 30.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 153,539 shares of the energy company's stock worth $13,282,000 after buying an additional 36,267 shares during the last quarter. Institutional investors and hedge funds own 20.74% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on IMO. Zacks Research raised shares of Imperial Oil from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 15th. Imperial Capital reissued a "sell" rating on shares of Imperial Oil in a research report on Tuesday, June 23rd. Desjardins raised Imperial Oil to a "hold" rating in a research note on Thursday, July 16th. TD Securities restated a "sell" rating on shares of Imperial Oil in a research report on Wednesday, May 13th. Finally, Scotiabank reaffirmed a "sector perform" rating on shares of Imperial Oil in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and five have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus target price of $116.00.

Imperial Oil Stock Performance

NYSEAMERICAN:IMO opened at $128.80 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.02 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $62.29 billion, a price-to-earnings ratio of 30.38 and a beta of 0.45. The firm has a fifty day simple moving average of $120.67 and a two-hundred day simple moving average of $120.38. Imperial Oil Limited has a 12 month low of $81.87 and a 12 month high of $139.44.

About Imperial Oil

Imperial Oil NYSEAMERICAN: IMO is a Canadian integrated energy company involved in the exploration, production, refining and marketing of petroleum and petrochemical products. Headquartered in Calgary, Alberta, Imperial has operated in Canada for well over a century and is one of the country's long-standing energy firms. The company is majority-owned by Exxon Mobil Corporation, which provides strategic and technical links to global upstream and downstream capabilities.

Imperial's operations span upstream activities—exploration and production of crude oil, natural gas and oil-sands resources—and downstream operations including refining, manufacturing of fuels and lubricants, petrochemical products, and retail distribution.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.