Ontario Teachers Pension Plan Board Buys 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 grew its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 60.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 40,262 shares of the energy company's stock after purchasing an additional 15,166 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Imperial Oil were worth $2,909,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. LPL Financial LLC grew its holdings in shares of Imperial Oil by 3.5% in the 4th quarter. LPL Financial LLC now owns 47,255 shares of the energy company's stock worth $2,911,000 after acquiring an additional 1,617 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Imperial Oil by 1.3% in the fourth quarter. Franklin Resources Inc. now owns 194,121 shares of the energy company's stock worth $11,949,000 after buying an additional 2,474 shares during the period. Geode Capital Management LLC boosted its position in shares of Imperial Oil by 29.0% in the fourth 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 during the period. Wells Fargo & Company MN boosted its position in shares of Imperial Oil by 7.3% in the fourth quarter. Wells Fargo & Company MN now owns 9,630 shares of the energy company's stock worth $593,000 after buying an additional 653 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Imperial Oil in the fourth quarter worth $415,000. 20.74% of the stock is currently owned by institutional investors and hedge funds.

Imperial Oil Trading Down 2.1%

Shares of Imperial Oil stock traded down $1.83 on Monday, hitting $83.49. 154,610 shares of the company's stock traded hands, compared to its average volume of 458,463. The firm's 50-day moving average price is $80.80 and its two-hundred day moving average price is $72.23. The stock has a market capitalization of $42.50 billion, a PE ratio of 12.86 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 company has a debt-to-equity ratio of 0.16, a current ratio of 1.58 and a quick ratio of 1.34.

Analyst Ratings Changes

A number of research firms recently issued reports on IMO. Tudor Pickering cut Imperial Oil from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Wolfe Research cut Imperial Oil from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, July 23rd. BMO Capital Markets reissued an "outperform" rating on shares of Imperial Oil in a research report on Monday, August 4th. Desjardins cut Imperial Oil from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 3rd. Finally, Raymond James Financial cut Imperial Oil from a "moderate buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus 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.