GMT Capital Corp Invests $2.43 Million in Imperial Oil Ltd (IMO) Stock
GMT Capital Corp bought a new stake in shares of Imperial Oil Ltd (NYSEAMERICAN:IMO) (TSE:IMO) in the second quarter, HoldingsChannel reports. The institutional investor bought 73,000 shares of the energy company’s stock, valued at approximately $2,425,000.
Other hedge funds have also made changes to their positions in the company. Wolverine Asset Management LLC purchased a new stake in Imperial Oil during the second quarter valued at approximately $166,000. Creative Planning purchased a new stake in Imperial Oil during the second quarter valued at approximately $209,000. Quantbot Technologies LP increased its holdings in Imperial Oil by 114.1% during the first quarter. Quantbot Technologies LP now owns 6,752 shares of the energy company’s stock valued at $178,000 after buying an additional 3,598 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new stake in Imperial Oil during the second quarter valued at approximately $229,000. Finally, Tower Research Capital LLC TRC increased its holdings in Imperial Oil by 260.9% during the second quarter. Tower Research Capital LLC TRC now owns 8,383 shares of the energy company’s stock valued at $279,000 after buying an additional 6,060 shares during the last quarter.
A number of analysts have recently issued reports on IMO shares. Morgan Stanley set a $52.00 price objective on shares of Imperial Oil and gave the stock a “hold” rating in a research note on Wednesday, May 23rd. Barclays raised shares of Imperial Oil from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, July 11th. Zacks Investment Research cut shares of Imperial Oil from a “buy” rating to a “hold” rating in a research note on Wednesday, July 18th. Finally, TheStreet raised shares of Imperial Oil from a “c” rating to a “b-” rating in a research note on Wednesday, May 30th. Two research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The stock presently has an average rating of “Hold” and an average price target of $43.60.
Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last announced its quarterly earnings data on Friday, July 27th. The energy company reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.26). The firm had revenue of $9.54 billion during the quarter, compared to analysts’ expectations of $9 billion. Imperial Oil had a negative return on equity of 2.22% and a negative net margin of 1.70%. The business’s revenue for the quarter was up 35.7% on a year-over-year basis. During the same period last year, the company earned ($0.09) earnings per share.
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.
Recommended Story: Fiduciary
Want to see what other hedge funds are holding IMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Imperial Oil Ltd (NYSEAMERICAN:IMO) (TSE:IMO).
Receive News & Ratings for Imperial Oil Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Imperial Oil and related companies with MarketBeat.com's FREE daily email newsletter.