APG Asset Management N.V. reduced its position in shares of Imperial Oil Ltd (NYSEAMERICAN:IMO) (TSE:IMO) by 60.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 150,483 shares of the energy company’s stock after selling 232,421 shares during the period. APG Asset Management N.V.’s holdings in Imperial Oil were worth $1,682,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IMO. Orion Portfolio Solutions LLC bought a new stake in Imperial Oil in the 4th quarter valued at about $31,000. Parallel Advisors LLC raised its position in shares of Imperial Oil by 97.5% in the first quarter. Parallel Advisors LLC now owns 2,485 shares of the energy company’s stock valued at $28,000 after buying an additional 1,227 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Imperial Oil by 4,186.2% in the fourth quarter. Acadian Asset Management LLC now owns 4,029 shares of the energy company’s stock valued at $107,000 after buying an additional 3,935 shares during the period. Quantbot Technologies LP grew its position in Imperial Oil by 588.4% during the fourth quarter. Quantbot Technologies LP now owns 5,700 shares of the energy company’s stock worth $150,000 after buying an additional 4,872 shares in the last quarter. Finally, Keebeck Alpha LP increased its stake in Imperial Oil by 63.6% during the 1st quarter. Keebeck Alpha LP now owns 13,727 shares of the energy company’s stock worth $155,000 after acquiring an additional 5,337 shares during the period.
Several brokerages have recently commented on IMO. Morgan Stanley upgraded shares of Imperial Oil from an “equal weight” rating to an “overweight” rating in a research report on Monday, March 16th. Stifel Firstegy downgraded shares of Imperial Oil from a “hold” rating to a “reduce” rating in a research report on Monday, May 4th. Citigroup raised Imperial Oil from a “sell” rating to a “neutral” rating in a report on Wednesday, April 29th. Raymond James upgraded Imperial Oil from an “underperform” rating to a “market perform” rating and set a $18.50 price target on the stock in a research note on Wednesday, April 22nd. Finally, Royal Bank of Canada upped their price objective on Imperial Oil from $21.00 to $23.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 12th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. Imperial Oil currently has a consensus rating of “Hold” and an average price target of $29.11.
Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last announced its earnings results on Friday, May 1st. The energy company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.07. The business had revenue of $4.99 billion for the quarter, compared to the consensus estimate of $4.61 billion.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Thursday, June 4th will be paid a $0.1578 dividend. This represents a $0.63 annualized dividend and a yield of 3.93%. The ex-dividend date is Wednesday, June 3rd.
Imperial Oil Company Profile
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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