Citigroup Inc. lessened its holdings in shares of Imperial Oil Ltd (NYSEMKT:IMO) (TSE:IMO) by 13.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,994 shares of the energy company’s stock after selling 4,562 shares during the quarter. Citigroup Inc.’s holdings in Imperial Oil were worth $845,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Pinebridge Investments L.P. purchased a new position in Imperial Oil in the 2nd quarter worth approximately $1,407,000. Artisan Partners Limited Partnership boosted its holdings in Imperial Oil by 24.9% in the 2nd quarter. Artisan Partners Limited Partnership now owns 21,292,920 shares of the energy company’s stock worth $620,660,000 after acquiring an additional 4,243,469 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Imperial Oil by 0.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 33,488 shares of the energy company’s stock worth $977,000 after acquiring an additional 152 shares during the period. Ameriprise Financial Inc. boosted its holdings in Imperial Oil by 12.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,222 shares of the energy company’s stock worth $241,000 after acquiring an additional 900 shares during the period. Finally, Fiera Capital Corp boosted its stake in shares of Imperial Oil by 7.1% during the 2nd quarter. Fiera Capital Corp now owns 902,772 shares of the energy company’s stock valued at $26,268,000 after buying an additional 59,692 shares during the last quarter.
IMO has been the subject of several research analyst reports. Morgan Stanley increased their target price on Imperial Oil from $36.00 to $42.00 and gave the company an “underweight” rating in a research note on Friday, October 13th. BidaskClub upgraded Imperial Oil from a “hold” rating to a “buy” rating in a research note on Tuesday, September 12th. Zacks Investment Research cut Imperial Oil from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. AltaCorp Capital cut Imperial Oil from a “sector perform” rating to an “underperform” rating in a research note on Wednesday, August 23rd. Finally, National Bank Financial assumed coverage on Imperial Oil in a research note on Tuesday, June 27th. They set a “sector perform” rating on the stock. Six equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $44.17.
Imperial Oil Ltd (IMO) opened at 31.90 on Wednesday. Imperial Oil Ltd has a one year low of $27.59 and a one year high of $36.85. The stock’s 50 day moving average price is $31.10 and its 200-day moving average price is $29.64. The firm has a market capitalization of $26.93 billion, a price-to-earnings ratio of 12.19 and a beta of 1.14.
Imperial Oil (NYSEMKT:IMO) (TSE:IMO) last issued its quarterly earnings data on Friday, July 28th. The energy company reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.30). Imperial Oil had a negative net margin of 1.10% and a negative return on equity of 1.23%. The business had revenue of $7.03 billion during the quarter, compared to the consensus estimate of $8.40 billion. During the same quarter in the previous year, the firm posted ($0.21) EPS. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, equities research analysts anticipate that Imperial Oil Ltd will post $0.91 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Sunday, October 1st. Stockholders of record on Friday, September 1st were given a dividend of $0.1279 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 1.60%. This is an increase from Imperial Oil’s previous quarterly dividend of $0.12. Imperial Oil’s payout ratio is presently 170.37%.
Imperial Oil Company Profile
Imperial Oil Limited is an integrated oil company. The Company is engaged in all the phases of the petroleum industry in Canada, including exploration for, and production and sale of, crude oil and natural gas. Its operations are conducted in three segments: Upstream, Downstream and Chemical. The Upstream operations include the exploration for, and production of, crude oil, natural gas, synthetic oil and bitumen.
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