State of Wisconsin Investment Board lowered its stake in Imperial Oil Ltd (NYSEAMERICAN:IMO) (TSE:IMO) by 2.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 275,159 shares of the energy company’s stock after selling 5,733 shares during the period. State of Wisconsin Investment Board’s holdings in Imperial Oil were worth $9,141,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in IMO. First Eagle Investment Management LLC lifted its position in shares of Imperial Oil by 23.3% in the first quarter. First Eagle Investment Management LLC now owns 21,590,993 shares of the energy company’s stock worth $571,783,000 after buying an additional 4,076,398 shares during the last quarter. Schroder Investment Management Group lifted its position in shares of Imperial Oil by 234.2% in the first quarter. Schroder Investment Management Group now owns 5,564,374 shares of the energy company’s stock worth $189,857,000 after buying an additional 3,899,300 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in shares of Imperial Oil by 12.7% in the first quarter. Artisan Partners Limited Partnership now owns 29,228,813 shares of the energy company’s stock worth $774,081,000 after buying an additional 3,292,729 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Imperial Oil by 69.2% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,372,800 shares of the energy company’s stock worth $45,605,000 after buying an additional 561,400 shares during the last quarter. Finally, Hexavest Inc. acquired a new stake in shares of Imperial Oil in the second quarter worth about $10,454,000.

Shares of IMO opened at $31.11 on Tuesday. Imperial Oil Ltd has a 12-month low of $25.91 and a 12-month high of $34.29.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last issued its quarterly earnings results on Friday, July 27th. The energy company reported $0.24 earnings per share (EPS) for the quarter, missing the 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 for the quarter, compared to the consensus estimate of $9 billion. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. The company’s revenue was up 35.7% on a year-over-year basis.

Several equities analysts recently weighed in on IMO shares. Barclays raised Imperial Oil from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, July 11th. Zacks Investment Research cut Imperial Oil from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. TheStreet raised Imperial Oil from a “c” rating to a “b-” rating in a research report on Wednesday, May 30th. Morgan Stanley set a $52.00 price objective on Imperial Oil and gave the stock a “hold” rating in a research report on Wednesday, May 23rd. Finally, Raymond James cut Imperial Oil from a “market perform” rating to an “underperform” rating in a research report on Tuesday, April 24th. Three investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Imperial Oil presently has a consensus rating of “Hold” and a consensus price target of $42.67.

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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