Hanson & Doremus Investment Management Decreases Position in Imperial Oil Ltd (IMO)

Hanson & Doremus Investment Management reduced its stake in shares of Imperial Oil Ltd (NYSEAMERICAN:IMO) (TSE:IMO) by 31.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,645 shares of the energy company’s stock after selling 1,670 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Imperial Oil were worth $100,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Macquarie Group Ltd. acquired a new stake in shares of Imperial Oil during the fourth quarter worth approximately $38,000. Atlas Capital Advisors LLC acquired a new stake in shares of Imperial Oil during the fourth quarter worth approximately $138,000. Quadrant Capital Group LLC boosted its holdings in shares of Imperial Oil by 879.6% during the fourth quarter. Quadrant Capital Group LLC now owns 6,446 shares of the energy company’s stock worth $157,000 after purchasing an additional 5,788 shares during the period. Fruth Investment Management acquired a new stake in shares of Imperial Oil during the first quarter worth approximately $204,000. Finally, AlphaCrest Capital Management LLC acquired a new stake in Imperial Oil in the fourth quarter valued at approximately $220,000.

NYSEAMERICAN IMO opened at $30.08 on Wednesday. Imperial Oil Ltd has a 12-month low of $24.29 and a 12-month high of $34.56.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last posted its earnings results on Friday, February 1st. The energy company reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.24. The business had revenue of $7.89 billion during the quarter, compared to analyst estimates of $8.89 billion. Imperial Oil’s revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.16) earnings per share.

A number of analysts have issued reports on the stock. Credit Suisse Group reiterated a “hold” rating on shares of Imperial Oil in a research note on Friday, April 12th. Citigroup reiterated a “hold” rating on shares of Imperial Oil in a research note on Friday, March 22nd. Raymond James reiterated an “average” rating and issued a $44.00 target price on shares of Imperial Oil in a research note on Wednesday, March 20th. Desjardins reiterated a “hold” rating and issued a $38.00 target price on shares of Imperial Oil in a research note on Tuesday, February 5th. Finally, CIBC reiterated a “sell” rating on shares of Imperial Oil in a research note on Saturday, February 2nd. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $38.98.

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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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