Imperial Oil Limited $IMO Shares Acquired by Korea Investment CORP

Key Points

• Korea Investment CORP increased its stake in Imperial Oil Limited by 30.9%, acquiring an additional 34,252 shares, bringing its total holdings to 145,143 shares valued at $10,483,000.
• Several institutional investors have also adjusted their positions in Imperial Oil, with significant increases from firms like Wells Fargo and Envestnet Asset Management in the last quarter.
• Analysts have mixed ratings on Imperial Oil, with one Buy, five Hold, and three Sell ratings, resulting in a consensus target price of $105.50.

Korea Investment CORP increased its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 30.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,143 shares of the energy company's stock after buying an additional 34,252 shares during the period. Korea Investment CORP's holdings in Imperial Oil were worth $10,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Northern Trust Corp lifted its position in shares of Imperial Oil by 2.0% during the 1st quarter. Northern Trust Corp now owns 199,021 shares of the energy company's stock valued at $14,393,000 after buying an additional 3,889 shares in the last quarter. Corient IA LLC purchased a new position in Imperial Oil in the 1st quarter valued at $362,000. Cresset Asset Management LLC purchased a new position in Imperial Oil in the 1st quarter valued at $310,000. Lord Abbett & CO. LLC lifted its holdings in Imperial Oil by 7.9% in the 1st quarter. Lord Abbett & CO. LLC now owns 29,140 shares of the energy company's stock valued at $2,105,000 after purchasing an additional 2,140 shares in the last quarter. Finally, Gulf International Bank UK Ltd lifted its holdings in Imperial Oil by 1,905.0% in the 1st quarter. Gulf International Bank UK Ltd now owns 10,125 shares of the energy company's stock valued at $732,000 after purchasing an additional 9,620 shares in the last quarter. Hedge funds and other institutional investors own 20.74% of the company's stock.

Wall Street Analysts Forecast Growth

IMO has been the topic of a number of research reports. Tudor Pickering lowered Imperial Oil from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Imperial Oil in a research note on Monday, August 4th. Desjardins downgraded Imperial Oil from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 3rd. Raymond James Financial downgraded Imperial Oil from a "moderate buy" rating to a "hold" rating in a research note on Thursday, July 3rd. Finally, Wolfe Research downgraded 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 assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $105.50.

Imperial Oil Stock Performance

IMO traded up $2.03 during trading on Wednesday, hitting $89.82. 297,030 shares of the stock were exchanged, compared to its average volume of 360,736. The firm has a market capitalization of $45.50 billion, a P/E ratio of 13.84 and a beta of 0.92. Imperial Oil Limited has a 1-year low of $58.76 and a 1-year high of $89.84. The stock has a fifty day moving average price of $82.96 and a two-hundred day moving average price of $74.10. The company has a quick ratio of 1.34, a current ratio of 1.58 and a debt-to-equity ratio of 0.16.

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.