Jupiter Asset Management Ltd. Lowers Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

Key Points

• Jupiter Asset Management Ltd. cut its stake in Imperial Oil Limited by 78.1% in the first quarter, now holding 72,647 shares valued at approximately $5.25 million.
• Analysts have issued downgraded ratings for Imperial Oil, with Desjardins lowering it to a "strong sell" and others moving from "buy" to "hold," resulting in an average rating of "Hold" with a target price of $105.50.
• Imperial Oil's current stock price is $83.32, within a 1-year range of $58.76 to $86.26, indicating fluctuating performance in the energy sector.

Jupiter Asset Management Ltd. decreased its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 78.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 72,647 shares of the energy company's stock after selling 259,078 shares during the quarter. Jupiter Asset Management Ltd.'s holdings in Imperial Oil were worth $5,247,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of IMO. FMR LLC raised its holdings in shares of Imperial Oil by 16.9% during the 4th quarter. FMR LLC now owns 43,162,088 shares of the energy company's stock worth $2,659,965,000 after acquiring an additional 6,228,461 shares in the last quarter. TD Asset Management Inc raised its stake in Imperial Oil by 1.0% during 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 purchasing an additional 47,898 shares in the last quarter. Bank of America Corp DE lifted its position in Imperial Oil by 1.1% during the fourth quarter. Bank of America Corp DE now owns 2,398,899 shares of the energy company's stock valued at $147,772,000 after purchasing an additional 26,891 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Imperial Oil by 29.0% in the 4th quarter. Geode Capital Management LLC now owns 1,086,840 shares of the energy company's stock worth $67,634,000 after buying an additional 244,176 shares in the last quarter. Finally, Mackenzie Financial Corp grew its stake 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 in the last quarter. 20.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IMO has been the subject of a number of analyst reports. Desjardins downgraded shares of Imperial Oil from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 3rd. Wolfe Research lowered Imperial Oil from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, July 23rd. Raymond James Financial cut Imperial Oil from a "moderate buy" rating to a "hold" rating in a report on Thursday, July 3rd. Finally, Tudor Pickering lowered Imperial Oil from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Three research analysts have rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $105.50.

Imperial Oil Trading Down 0.2%

Shares of NYSEAMERICAN IMO opened at $83.32 on Monday. Imperial Oil Limited has a 1-year low of $58.76 and a 1-year high of $86.26. The business has a fifty day moving average price of $79.47 and a 200 day moving average price of $71.49. The stock has a market capitalization of $42.41 billion, a P/E ratio of 12.84 and a beta of 0.92. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.48 and a quick ratio of 1.22.

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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