Caymus Capital Partners L.P. grew its stake in Imperial Oil Ltd (NYSEAMERICAN:IMO) (TSE:IMO) by 279.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 951,208 shares of the energy company’s stock after acquiring an additional 700,300 shares during the quarter. Imperial Oil comprises approximately 9.1% of Caymus Capital Partners L.P.’s investment portfolio, making the stock its 2nd biggest position. Caymus Capital Partners L.P.’s holdings in Imperial Oil were worth $25,153,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of IMO. Lindbrook Capital LLC grew its holdings in shares of Imperial Oil by 125.4% during the 3rd quarter. Lindbrook Capital LLC now owns 1,084 shares of the energy company’s stock worth $28,000 after purchasing an additional 603 shares during the period. Stonebridge Capital Advisors LLC purchased a new position in shares of Imperial Oil during the 2nd quarter worth $55,000. Signaturefd LLC grew its holdings in shares of Imperial Oil by 130.4% during the 3rd quarter. Signaturefd LLC now owns 3,170 shares of the energy company’s stock worth $83,000 after purchasing an additional 1,794 shares during the period. Huntington National Bank boosted its stake in shares of Imperial Oil by 29.6% in the 3rd quarter. Huntington National Bank now owns 5,040 shares of the energy company’s stock valued at $131,000 after buying an additional 1,151 shares during the period. Finally, Creative Planning boosted its stake in shares of Imperial Oil by 14.4% in the 3rd quarter. Creative Planning now owns 9,442 shares of the energy company’s stock valued at $246,000 after buying an additional 1,187 shares during the period.
IMO traded down $0.22 during trading on Friday, hitting $27.12. 33,150 shares of the stock were exchanged, compared to its average volume of 275,608. Imperial Oil Ltd has a 1-year low of $23.66 and a 1-year high of $30.38.
Several brokerages have recently weighed in on IMO. Citigroup lowered Imperial Oil from a “neutral” rating to a “sell” rating in a research report on Monday, October 7th. Morgan Stanley cut their target price on Imperial Oil from $39.00 to $38.00 in a research report on Wednesday, October 23rd. Goldman Sachs Group lowered Imperial Oil from a “buy” rating to a “neutral” rating and raised their target price for the stock from $37.00 to $39.00 in a research report on Thursday, September 26th. Royal Bank of Canada set a $37.00 target price on Imperial Oil and gave the stock a “hold” rating in a research report on Friday, October 18th. Finally, AltaCorp Capital lowered Imperial Oil from a “sector perform” rating to an “underperform” rating in a research report on Friday, October 11th. Five analysts have rated the stock with a sell rating and six have given a hold rating to the company. Imperial Oil has an average rating of “Hold” and an average target price of $35.10.
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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