PNC Financial Services Group Inc. reduced its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO – Free Report) (TSE:IMO) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 200,510 shares of the energy company’s stock after selling 3,124 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Imperial Oil were worth $11,467,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. The Manufacturers Life Insurance Company raised its position in shares of Imperial Oil by 95.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 6,597,474 shares of the energy company’s stock worth $376,421,000 after purchasing an additional 3,225,957 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Imperial Oil by 27.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,737,291 shares of the energy company’s stock worth $168,591,000 after purchasing an additional 589,017 shares during the last quarter. First Eagle Investment Management LLC raised its position in shares of Imperial Oil by 1.4% during the 4th quarter. First Eagle Investment Management LLC now owns 22,495,313 shares of the energy company’s stock worth $1,281,608,000 after purchasing an additional 316,009 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of Imperial Oil by 35.6% during the 4th quarter. Point72 Asset Management L.P. now owns 1,120,229 shares of the energy company’s stock worth $63,913,000 after purchasing an additional 293,910 shares during the last quarter. Finally, TD Asset Management Inc raised its position in shares of Imperial Oil by 25.7% during the 4th quarter. TD Asset Management Inc now owns 1,124,294 shares of the energy company’s stock worth $64,357,000 after purchasing an additional 229,953 shares during the last quarter. 20.74% of the stock is owned by hedge funds and other institutional investors.
Imperial Oil Price Performance
Shares of IMO stock opened at $65.47 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.34 and a quick ratio of 1.04. Imperial Oil Limited has a 52 week low of $47.90 and a 52 week high of $74.58. The company has a market capitalization of $35.08 billion, a price-to-earnings ratio of 10.26 and a beta of 1.45.
Imperial Oil (NYSEAMERICAN:IMO – Get Free Report) (TSE:IMO) last announced its quarterly earnings data on Friday, April 26th. The energy company reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.10. Imperial Oil had a net margin of 9.46% and a return on equity of 20.76%. The business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $11.61 billion. As a group, analysts anticipate that Imperial Oil Limited will post 6.18 EPS for the current year.
Imperial Oil Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a $0.4377 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.75 dividend on an annualized basis and a dividend yield of 2.67%. Imperial Oil’s payout ratio is 27.59%.
Analysts Set New Price Targets
A number of analysts have commented on IMO shares. StockNews.com downgraded shares of Imperial Oil from a “buy” rating to a “hold” rating in a report on Tuesday. Raymond James upgraded shares of Imperial Oil to a “hold” rating in a report on Tuesday, May 28th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Imperial Oil currently has a consensus rating of “Hold” and an average target price of $85.33.
Check Out Our Latest Research Report on Imperial Oil
About Imperial Oil
Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through 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 of refined products.
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Source: defenseworld.net
