Vanguard Group Inc. Sells 14,681 Shares of Imperial Oil Limited $IMO

Key Points

• Vanguard Group Inc. reduced its stake in Imperial Oil Limited by 0.2%, now holding approximately 6.49 million shares valued at around $468.7 million.
• Several institutional investors increased their holdings in Imperial Oil, with notable increases from Mackenzie Financial Corp. (54.7%) and LPL Financial LLC (68.6%) during the first quarter.
• Analyst ratings for Imperial Oil vary, with three analysts rating it as a sell, while the average rating remains a "Hold" with a target price of $105.50.

Vanguard Group Inc. decreased its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 0.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,488,607 shares of the energy company's stock after selling 14,681 shares during the quarter. Vanguard Group Inc. owned about 1.27% of Imperial Oil worth $468,705,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wayfinding Financial LLC purchased a new stake in Imperial Oil in the 1st quarter valued at $26,000. Group One Trading LLC increased its stake in 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 buying an additional 173 shares during the period. Continuum Advisory LLC acquired a new position in Imperial Oil in the 1st quarter valued at $71,000. AdvisorNet Financial Inc increased its stake in Imperial Oil by 104.0% in the 1st quarter. AdvisorNet Financial Inc now owns 1,275 shares of the energy company's stock valued at $92,000 after buying an additional 650 shares during the period. Finally, Pacifica Partners Inc. increased its stake in Imperial Oil by 141.1% in the 1st 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. Hedge funds and other institutional investors own 20.74% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IMO. Desjardins cut shares of Imperial Oil from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 3rd. Wolfe Research cut shares of 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 note on Monday, August 4th. Tudor Pickering cut shares of Imperial Oil from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Finally, Raymond James Financial cut shares of Imperial Oil from a "moderate buy" rating to a "hold" rating in a research note on Thursday, July 3rd. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Imperial Oil has a consensus rating of "Reduce" and an average target price of $105.50.

Imperial Oil Trading Up 0.9%

IMO traded up $0.78 during trading on Wednesday, reaching $83.35. The company had a trading volume of 253,444 shares, compared to its average volume of 381,613. The firm's 50-day simple moving average is $82.31 and its 200 day simple moving average is $73.39. The company has a market cap of $42.23 billion, a price-to-earnings ratio of 12.84 and a beta of 0.92. Imperial Oil Limited has a 12-month low of $58.76 and a 12-month 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.

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.