Swiss National Bank Lowers Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

Key Points

• The Swiss National Bank reduced its position in Imperial Oil Limited by 4.7%, selling 24,900 shares during the first quarter, resulting in a total of 506,976 shares owned.
• Several institutional investors, including the Maryland State Retirement & Pension System and Ontario Teachers Pension Plan Board, increased their holdings, with the latter growing its position by 60.4%.
• Imperial Oil's stock received mostly hold ratings from analysts, with a consensus price target of $105.50, despite recent cuts in ratings from multiple firms.

Swiss National Bank cut its position in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 4.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 506,976 shares of the energy company's stock after selling 24,900 shares during the quarter. Swiss National Bank owned about 0.10% of Imperial Oil worth $36,648,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IMO. Yousif Capital Management LLC bought a new position in shares of Imperial Oil during the 1st quarter worth approximately $226,000. Bessemer Group Inc. boosted its stake in shares of Imperial Oil by 198.9% during the 1st quarter. Bessemer Group Inc. now owns 23,690 shares of the energy company's stock worth $1,713,000 after acquiring an additional 15,765 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of 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 acquiring an additional 5,181 shares during the period. Principal Financial Group Inc. lifted its holdings in Imperial Oil by 7.7% during the 1st quarter. Principal Financial Group Inc. now owns 16,796 shares of the energy company's stock worth $1,213,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Vise Technologies Inc. increased its position in Imperial Oil by 70.2% during the 4th quarter. Vise Technologies Inc. now owns 13,002 shares of the energy company's stock worth $801,000 after buying an additional 5,361 shares during the period. 20.74% of the stock is owned by institutional investors.

Imperial Oil Stock Performance

NYSEAMERICAN IMO traded down $0.24 on Thursday, hitting $83.21. 272,341 shares of the stock traded hands, compared to its average volume of 457,859. The business's fifty day moving average is $81.44 and its two-hundred day moving average is $72.63. Imperial Oil Limited has a 12 month low of $58.76 and a 12 month high of $86.91. The firm has a market capitalization of $42.16 billion, a price-to-earnings ratio of 12.82 and a beta of 0.92. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.34 and a current ratio of 1.58.

Analyst Ratings Changes

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