Ontario Teachers Pension Plan Board Purchases 15,166 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Key Points

• The Ontario Teachers Pension Plan Board increased its holdings in Imperial Oil Limited by 60.4%, now owning 40,262 shares worth approximately $2.9 million.
• Multiple hedge funds have recently adjusted their stakes, with 20.74% of the stock owned by institutional investors and several analysts downgrading their ratings on the stock.
• Imperial Oil's stock has a current market capitalization of $43.54 billion, and analysts have set an average target price of $105.50 with a consensus rating of "Hold."

Ontario Teachers Pension Plan Board boosted its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 60.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,262 shares of the energy company's stock after buying an additional 15,166 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Imperial Oil were worth $2,909,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Wayfinding Financial LLC bought a new stake in Imperial Oil in the first quarter valued at approximately $26,000. Group One Trading LLC boosted its stake in shares of Imperial Oil by 29.7% in the 4th quarter. Group One Trading LLC now owns 755 shares of the energy company's stock valued at $47,000 after purchasing an additional 173 shares during the last quarter. Continuum Advisory LLC acquired a new stake in Imperial Oil during the 1st quarter worth about $71,000. AdvisorNet Financial Inc boosted its position in shares of Imperial Oil by 104.0% during the 1st quarter. AdvisorNet Financial Inc now owns 1,275 shares of the energy company's stock valued at $92,000 after purchasing an additional 650 shares in 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 valued at $167,000 after buying an additional 1,428 shares during the period. 20.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Imperial Oil Stock Up 0.7%

Shares of NYSEAMERICAN IMO opened at $85.53 on Thursday. The stock has a market capitalization of $43.54 billion, a P/E ratio of 13.18 and a beta of 0.92. Imperial Oil Limited has a one year low of $58.76 and a one year high of $86.91. The firm's 50 day simple moving average is $80.25 and its two-hundred day simple moving average is $71.83. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.58 and a quick ratio of 1.22.

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.

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