QV Investors Inc. reduced its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO – Free Report) (TSE:IMO) by 21.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,597 shares of the energy company’s stock after selling 42,829 shares during the quarter. Imperial Oil accounts for 1.4% of QV Investors Inc.’s holdings, making the stock its 26th biggest position. QV Investors Inc.’s holdings in Imperial Oil were worth $17,579,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of America Corp DE grew its position in Imperial Oil by 30.4% in the third quarter. Bank of America Corp DE now owns 3,840,645 shares of the energy company’s stock worth $348,500,000 after buying an additional 895,117 shares during the last quarter. Morgan Stanley lifted its position in shares of Imperial Oil by 47.9% during the 4th quarter. Morgan Stanley now owns 1,867,363 shares of the energy company’s stock valued at $161,172,000 after acquiring an additional 604,447 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Imperial Oil by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 1,693,690 shares of the energy company’s stock valued at $149,067,000 after acquiring an additional 78,321 shares during the last quarter. UBS Group AG boosted its stake in shares of Imperial Oil by 566.9% during the 3rd quarter. UBS Group AG now owns 1,406,624 shares of the energy company’s stock worth $127,637,000 after acquiring an additional 1,195,698 shares in the last quarter. Finally, Cibc World Market Inc. grew its holdings in shares of Imperial Oil by 8.4% in the 4th quarter. Cibc World Market Inc. now owns 1,243,738 shares of the energy company’s stock worth $107,459,000 after acquiring an additional 96,694 shares during the last quarter. 20.74% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the company. Desjardins raised Imperial Oil to a “hold” rating in a research report on Thursday, July 16th. Zacks Research cut Imperial Oil from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Imperial Capital reissued a “sell” rating on shares of Imperial Oil in a research note on Tuesday, June 23rd. TD Securities restated a “sell” rating on shares of Imperial Oil in a report on Wednesday, August 5th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Imperial Oil in a research note on Friday, July 17th. Four analysts have rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Strong Sell” and an average price target of $116.00.
Imperial Oil Stock Performance
Shares of Imperial Oil stock opened at $130.51 on Monday. Imperial Oil Limited has a 12 month low of $83.27 and a 12 month high of $139.44. The company has a quick ratio of 1.19, a current ratio of 1.38 and a debt-to-equity ratio of 0.16. The stock has a market cap of $63.11 billion, a PE ratio of 21.17 and a beta of 0.45. The business has a fifty day simple moving average of $124.58 and a 200-day simple moving average of $124.67.
Imperial Oil (NYSEAMERICAN:IMO – Get Free Report) (TSE:IMO) last posted its quarterly earnings results on Friday, July 31st. The energy company reported $4.52 earnings per share for the quarter, beating the consensus estimate of $2.99 by $1.53. The firm had revenue of $11.31 billion for the quarter, compared to analyst estimates of $10.92 billion. Imperial Oil had a return on equity of 22.28% and a net margin of 8.03%.Imperial Oil’s quarterly revenue was up 43.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.86 earnings per share. On average, sell-side analysts anticipate that Imperial Oil Limited will post 11.19 EPS for the current fiscal year.
Imperial Oil Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be given a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, September 4th. Imperial Oil’s dividend payout ratio is 38.24%.
Imperial Oil Company Profile
Imperial Oil (NYSEAMERICAN: IMO) is a Canadian integrated energy company involved in the exploration, production, refining and marketing of petroleum and petrochemical products. Headquartered in Calgary, Alberta, Imperial has operated in Canada for well over a century and is one of the country’s long-standing energy firms. The company is majority-owned by Exxon Mobil Corporation, which provides strategic and technical links to global upstream and downstream capabilities.
Imperial’s operations span upstream activities—exploration and production of crude oil, natural gas and oil-sands resources—and downstream operations including refining, manufacturing of fuels and lubricants, petrochemical products, and retail distribution.
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