First Eagle Investment Management Reduces $558M in Imperial Oil Limited ($IMO)
Key Points
- First Eagle Investment Management changed its Imperial Oil Limited ($IMO) stake by 24.9% last quarter, cutting to 13,972,305 shares worth $1.68 billion.
- Wall Street's consensus rating on $IMO is Underperform and an average price target of $108.65.
- $IMO last traded around $120.50.
First Eagle Investment Management reduced its position in Imperial Oil Limited ($IMO) by 24.9% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,972,305 shares of Imperial Oil Limited after selling 4,632,700 shares during the quarter. First Eagle Investment Management's holdings in Imperial Oil Limited were worth $1.68 billion as of its most recent filing.
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About Imperial Oil Limited
Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates in three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment transports and refines crude oil; blends refined products; and distributes and markets refined products. This segment also transports crude oil production and third-party crude oil to refineries by contracted and common carrier pipelines; owns and operates refineries; maintains a distribution system to move petroleum products to market by pipeline, tanker, rail, and road transport; owns and operates fuel terminals, natural gas liquids, and products pipelines in Alberta, Manitoba, and Ontario; markets petroleum products under the Esso and Mobil brands; and sells petroleum products, including fuel, asphalt, and lubricants to industrial and transportation customers, independent marketers, resellers, and other refiners, as well as the agriculture, residential heating, and commercial markets through branded fuel and lubricant resellers. The Chemical segment manufactures and markets aliphatic solvents, plasticizer intermediates, and polyethylene resins; and markets refinery grade propylene. It also provides petrochemicals. The company was incorporated in 1880 and is headquartered in Calgary, Canada. Imperial Oil Limited operates as a subsidiary of Exxon Mobil Corporation.
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