Raymond James & Associates lowered its stake in Imperial Oil Ltd (NYSEAMERICAN:IMO) (TSE:IMO) by 26.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,180 shares of the energy company’s stock after selling 3,353 shares during the period. Raymond James & Associates’ holdings in Imperial Oil were worth $305,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Creative Planning acquired a new stake in shares of Imperial Oil in the second quarter valued at approximately $209,000. Oppenheimer & Co. Inc. acquired a new stake in Imperial Oil during the 2nd quarter worth $229,000. ARP Americas LP acquired a new stake in Imperial Oil during the 2nd quarter worth $299,000. Suntrust Banks Inc. acquired a new stake in Imperial Oil during the 1st quarter worth $277,000. Finally, US Bancorp DE grew its holdings in Imperial Oil by 20.0% during the 2nd quarter. US Bancorp DE now owns 10,781 shares of the energy company’s stock worth $358,000 after acquiring an additional 1,794 shares during the period.
IMO has been the subject of a number of analyst reports. TheStreet raised shares of Imperial Oil from a “c” rating to a “b-” rating in a report on Friday, October 5th. Goldman Sachs Group raised shares of Imperial Oil from a “sell” rating to a “buy” rating in a report on Friday, October 19th. Canaccord Genuity raised shares of Imperial Oil from a “hold” rating to a “buy” rating in a report on Tuesday, October 16th. Tudor Pickering raised shares of Imperial Oil from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. Finally, Zacks Investment Research raised shares of Imperial Oil from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a report on Tuesday, October 9th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. Imperial Oil presently has a consensus rating of “Hold” and a consensus price target of $44.50.
Imperial Oil 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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