Jupiter Asset Management Ltd. Sells 259,078 Shares of 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. reduced its position in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 78.1% in the 1st quarter, according to the company in its most recent 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 reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wayfinding Financial LLC purchased a new position in Imperial Oil during the 1st quarter valued at about $26,000. Group One Trading LLC lifted its stake in Imperial Oil by 29.7% in the fourth quarter. Group One Trading LLC now owns 755 shares of the energy company's stock worth $47,000 after acquiring an additional 173 shares during the last quarter. Continuum Advisory LLC purchased a new position in Imperial Oil in the first quarter worth approximately $71,000. AdvisorNet Financial Inc lifted its stake in Imperial Oil by 104.0% in the first quarter. AdvisorNet Financial Inc now owns 1,275 shares of the energy company's stock worth $92,000 after acquiring an additional 650 shares during the last quarter. Finally, Pacifica Partners Inc. lifted its stake in Imperial Oil by 141.1% in the first quarter. Pacifica Partners Inc. now owns 2,440 shares of the energy company's stock worth $167,000 after acquiring an additional 1,428 shares during the last quarter. 20.74% of the stock is owned by hedge funds and other institutional investors.

Imperial Oil Trading Down 0.6%

Shares of NYSEAMERICAN:IMO traded down $0.51 during midday trading on Thursday, reaching $85.02. The company had a trading volume of 166,056 shares, compared to its average volume of 460,335. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.22 and a current ratio of 1.58. Imperial Oil Limited has a 1-year low of $58.76 and a 1-year high of $86.91. The firm has a market cap of $43.28 billion, a price-to-earnings ratio of 13.10 and a beta of 0.92. The company has a fifty day simple moving average of $80.25 and a two-hundred day simple moving average of $71.83.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IMO. Wolfe Research cut Imperial Oil from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, July 23rd. BMO Capital Markets reiterated an "outperform" rating on shares of Imperial Oil in a research report on Monday. Raymond James Financial downgraded shares of Imperial Oil from a "moderate buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Tudor Pickering downgraded shares of Imperial Oil from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Finally, Desjardins cut Imperial Oil from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 3rd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price 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.