Virginia Retirement Systems ET AL trimmed its position in Imperial Oil Ltd (NYSEAMERICAN:IMO) (TSE:IMO) by 37.0% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 110,100 shares of the energy company’s stock after selling 64,700 shares during the period. Virginia Retirement Systems ET AL’s holdings in Imperial Oil were worth $3,006,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Guinness Asset Management Ltd increased its position in shares of Imperial Oil by 32.7% in the first quarter. Guinness Asset Management Ltd now owns 433,766 shares of the energy company’s stock valued at $11,845,000 after acquiring an additional 107,000 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co increased its position in shares of Imperial Oil by 15.1% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 18,645 shares of the energy company’s stock valued at $509,000 after acquiring an additional 2,450 shares during the last quarter. Fruth Investment Management bought a new position in Imperial Oil during the first quarter worth about $204,000. American Research & Management Co. grew its holdings in Imperial Oil by 9.9% during the first quarter. American Research & Management Co. now owns 47,481 shares of the energy company’s stock worth $1,298,000 after purchasing an additional 4,276 shares during the period. Finally, Scout Investments Inc. grew its holdings in Imperial Oil by 5.8% during the first quarter. Scout Investments Inc. now owns 89,467 shares of the energy company’s stock worth $2,449,000 after purchasing an additional 4,888 shares during the period.
A number of equities research analysts have recently issued reports on IMO shares. Credit Suisse Group started coverage on Imperial Oil in a report on Monday, January 28th. They set an “underperform” rating and a $27.89 price objective for the company. Morgan Stanley set a $42.00 price objective on Imperial Oil and gave the stock a “hold” rating in a report on Tuesday, January 29th. CIBC restated a “sell” rating on shares of Imperial Oil in a report on Saturday, February 2nd. Desjardins reiterated a “hold” rating and issued a $38.00 price target on shares of Imperial Oil in a research note on Tuesday, February 5th. Finally, Raymond James reiterated an “average” rating and issued a $44.00 price target on shares of Imperial Oil in a research note on Wednesday, March 20th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $38.41.
Shares of NYSEAMERICAN:IMO traded down $0.30 during trading on Wednesday, hitting $27.96. 147,443 shares of the company were exchanged, compared to its average volume of 356,620. Imperial Oil Ltd has a 1-year low of $24.29 and a 1-year high of $34.56.
Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last posted its quarterly earnings data on Friday, April 26th. The energy company reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.09). The company had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8.21 billion. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the firm earned $0.62 EPS.
About Imperial Oil
Imperial Oil Limited explores for, produces, and sells crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream, and Chemical. The Upstream segment explores for and produces crude oil, natural gas, synthetic oil, and bitumen. As of December 31, 2017, this segment had 450 million oil-equivalent barrels of proved undeveloped reserves.
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