Tacita Capital Inc Trims Stock Position in Imperial Oil Limited $IMO

Key Points

• Tacita Capital Inc significantly reduced its holdings in Imperial Oil Limited by 92.9%, ending the quarter with only 507 shares valued at $37,000 after selling 6,669 shares.
• Several hedge funds have increased their positions in Imperial Oil, with Mackenzie Financial Corp boosting its stake by 54.7% in the first quarter, now holding 690,024 shares valued at nearly $50 million.
• Equity analysts have shown a mixed sentiment towards Imperial Oil, with three analysts

Tacita Capital Inc lowered its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 92.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 507 shares of the energy company's stock after selling 6,669 shares during the period. Tacita Capital Inc's holdings in Imperial Oil were worth $37,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of IMO. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Imperial Oil in the 4th quarter valued at $19,507,000. Mackenzie Financial Corp increased its holdings in shares of Imperial Oil by 54.7% in the first quarter. Mackenzie Financial Corp now owns 690,024 shares of the energy company's stock worth $49,842,000 after purchasing an additional 243,894 shares during the period. Nuveen LLC purchased a new stake in shares of Imperial Oil in the first quarter worth $13,673,000. Genus Capital Management Inc. boosted its stake in Imperial Oil by 292.6% during the first quarter. Genus Capital Management Inc. now owns 94,512 shares of the energy company's stock valued at $6,826,000 after buying an additional 143,581 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Imperial Oil during the fourth quarter valued at $7,982,000. 20.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Imperial Oil Stock Performance

Shares of IMO traded up $0.78 during mid-day trading on Wednesday, hitting $83.35. 253,444 shares of the company traded hands, compared to its average volume of 381,613. The stock has a market cap of $42.23 billion, a price-to-earnings ratio of 12.84 and a beta of 0.92. The stock has a 50-day moving average price of $82.31 and a two-hundred day moving average price of $73.39. Imperial Oil Limited has a 1 year low of $58.76 and a 1 year high of $86.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.34 and a current ratio of 1.58.

About Imperial Oil

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.