Northwest & Ethical Investments L.P. Sells 44,387 Shares of Imperial Oil Limited $IMO

Key Points

• Northwest & Ethical Investments L.P. has reduced its stake in Imperial Oil Limited by 22.2%, now holding approximately $11.25 million worth of shares after selling 44,387 shares in the first quarter.
• Multiple hedge funds have altered their positions in Imperial Oil, with some purchasing new shares and others increasing their investments during the first quarter.
• Analyst ratings for Imperial Oil have been mixed, with some downgrades leading to an average rating of "Hold" and a price target of $105.50, while other analysts maintain a buy investment outlook.

Northwest & Ethical Investments L.P. decreased its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 22.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 155,682 shares of the energy company's stock after selling 44,387 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Imperial Oil were worth $11,253,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of IMO. Wells Fargo & Company MN boosted its stake in shares of Imperial Oil by 7.3% during the fourth quarter. Wells Fargo & Company MN now owns 9,630 shares of the energy company's stock valued at $593,000 after purchasing an additional 653 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Imperial Oil by 8.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 63,193 shares of the energy company's stock worth $3,893,000 after buying an additional 5,181 shares during the period. Raymond James Financial Inc. bought a new stake in Imperial Oil during the 4th quarter worth approximately $7,982,000. NewEdge Advisors LLC grew its holdings in Imperial Oil by 15.0% during the 4th quarter. NewEdge Advisors LLC now owns 7,686 shares of the energy company's stock worth $473,000 after acquiring an additional 1,002 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Imperial Oil during the fourth quarter valued at $629,000. Institutional investors and hedge funds own 20.74% of the company's stock.

Analysts Set New Price Targets

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

Imperial Oil Trading Up 1.3%

Shares of IMO stock traded up $1.07 during trading hours on Thursday, reaching $84.42. The company's stock had a trading volume of 310,102 shares, compared to its average volume of 452,507. The company has a current ratio of 1.58, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16. Imperial Oil Limited has a one year low of $58.76 and a one year high of $86.91. The stock has a market capitalization of $42.77 billion, a P/E ratio of 13.01 and a beta of 0.92. The firm's fifty day simple moving average is $82.31 and its 200 day simple moving average is $73.39.

Imperial Oil 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.