Bank of Montreal Can lowered its stake in shares of Imperial Oil Ltd (NYSEAMERICAN:IMO) (TSE:IMO) by 23.1% during the third quarter, HoldingsChannel reports. The firm owned 5,760,478 shares of the energy company’s stock after selling 1,728,629 shares during the quarter. Bank of Montreal Can’s holdings in Imperial Oil were worth $186,467,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the company. Fruth Investment Management bought a new stake in Imperial Oil in the 3rd quarter valued at $246,000. Northern Trust Corp raised its stake in Imperial Oil by 16.9% in the 2nd quarter. Northern Trust Corp now owns 448,061 shares of the energy company’s stock valued at $14,898,000 after acquiring an additional 64,747 shares during the period. Bank of New York Mellon Corp raised its stake in Imperial Oil by 5.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 504,841 shares of the energy company’s stock valued at $16,786,000 after acquiring an additional 24,866 shares during the period. Bank of Nova Scotia raised its stake in Imperial Oil by 3.8% in the 2nd quarter. Bank of Nova Scotia now owns 886,425 shares of the energy company’s stock valued at $29,352,000 after acquiring an additional 32,470 shares during the period. Finally, Jane Street Group LLC bought a new stake in Imperial Oil in the 2nd quarter valued at $486,000.

Shares of Imperial Oil stock opened at $32.80 on Friday. Imperial Oil Ltd has a 52 week low of $25.91 and a 52 week high of $34.29.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last announced its quarterly earnings data on Friday, July 27th. The energy company reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.26). Imperial Oil had a negative net margin of 1.70% and a negative return on equity of 2.22%. The firm had revenue of $9.54 billion during the quarter, compared to analyst estimates of $9 billion. During the same period last year, the business posted ($0.09) EPS. The company’s revenue was up 35.7% on a year-over-year basis.

Several equities research analysts recently commented on the company. TheStreet raised Imperial Oil from a “c” rating to a “b-” rating in a research note on Friday, October 5th. CIBC assumed coverage on Imperial Oil in a research note on Friday, October 5th. They set a “sector underperform” rating for the company. Zacks Investment Research raised Imperial Oil from a “hold” rating to a “strong-buy” rating and set a $38.00 target price for the company in a research note on Thursday, July 5th. Tudor Pickering raised Imperial Oil from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Barclays raised Imperial Oil from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, July 11th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $43.60.

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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Institutional Ownership by Quarter for Imperial Oil (NYSEAMERICAN:IMO)

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