Pendal Group Ltd trimmed its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO – Get Rating) (TSE:IMO) by 42.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,341 shares of the energy company's stock after selling 10,772 shares during the period. Pendal Group Ltd's holdings in Imperial Oil were worth $699,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also modified their holdings of IMO. GQG Partners LLC lifted its position in Imperial Oil by 31.1% during the second quarter. GQG Partners LLC now owns 9,897,198 shares of the energy company's stock worth $465,573,000 after buying an additional 2,346,871 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Imperial Oil by 153.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,505,425 shares of the energy company's stock valued at $72,741,000 after acquiring an additional 911,333 shares during the last quarter. Waratah Capital Advisors Ltd. purchased a new stake in shares of Imperial Oil in the third quarter valued at about $37,331,000. Mackenzie Financial Corp grew its holdings in shares of Imperial Oil by 505.2% in the first quarter. Mackenzie Financial Corp now owns 837,145 shares of the energy company's stock valued at $40,576,000 after purchasing an additional 698,818 shares during the period. Finally, Toronto Dominion Bank increased its position in Imperial Oil by 48.8% during the third quarter. Toronto Dominion Bank now owns 1,431,206 shares of the energy company's stock worth $61,957,000 after purchasing an additional 469,423 shares during the last quarter. 20.76% of the stock is currently owned by institutional investors and hedge funds.
Get Imperial Oil alerts:Analyst Ratings Changes
Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. cut shares of Imperial Oil from a "neutral" rating to an "underweight" rating in a research note on Monday, December 5th. CIBC reduced their target price on Imperial Oil from C$80.00 to C$76.00 in a research report on Tuesday, January 17th. National Bank Financial raised their price objective on Imperial Oil from C$80.00 to C$85.00 in a research report on Wednesday, January 11th. Raymond James upped their target price on shares of Imperial Oil from C$70.00 to C$74.00 in a research report on Wednesday, February 1st. Finally, Scotiabank upgraded shares of Imperial Oil from a "sector perform" rating to a "sector outperform" rating in a research report on Tuesday, March 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $79.33.
Imperial Oil Price Performance
Shares of IMO opened at $50.15 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.06 and a current ratio of 1.23. Imperial Oil Limited has a 1 year low of $39.95 and a 1 year high of $58.99. The stock has a market cap of $29.30 billion, a PE ratio of 6.56, a price-to-earnings-growth ratio of 0.24 and a beta of 1.50.
Imperial Oil (NYSEAMERICAN:IMO – Get Rating) (TSE:IMO) last released its earnings results on Tuesday, January 31st. The energy company reported $2.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.84 by $0.27. The company had revenue of $10.65 billion for the quarter, compared to analyst estimates of $13.22 billion. Imperial Oil had a net margin of 11.14% and a return on equity of 28.06%. As a group, sell-side analysts anticipate that Imperial Oil Limited will post 7.57 earnings per share for the current fiscal year.
Imperial Oil Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Saturday, April 1st. Investors of record on Friday, March 3rd will be issued a $0.3298 dividend. The ex-dividend date of this dividend is Thursday, March 2nd. This is a positive change from Imperial Oil's previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a yield of 2.63%. Imperial Oil's dividend payout ratio (DPR) is 17.15%.
Imperial Oil Company Profile
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Imperial Oil Ltd. engages in the exploration, production, and sale of crude oil and natural gas. It operates through the following business segments: Upstream, Downstream, Chemical, and Corporate and Other. The Upstream segment includes the exploration and production of crude oil, natural gas, synthetic oil, and bitumen.
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