Oppenheimer & Co. Inc. reduced its holdings in shares of Imperial Oil Ltd (NYSEMKT:IMO) (TSE:IMO) by 42.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,601 shares of the energy company’s stock after selling 9,342 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Imperial Oil were worth $368,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. Comerica Bank grew its stake in shares of Imperial Oil by 1.3% during the 1st quarter. Comerica Bank now owns 13,983 shares of the energy company’s stock worth $411,000 after acquiring an additional 181 shares in the last quarter. World Asset Management Inc grew its stake in shares of Imperial Oil by 1.3% during the 1st quarter. World Asset Management Inc now owns 15,175 shares of the energy company’s stock worth $463,000 after acquiring an additional 193 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Imperial Oil by 0.4% during the 1st quarter. JPMorgan Chase & Co. now owns 110,053 shares of the energy company’s stock worth $3,355,000 after acquiring an additional 447 shares in the last quarter. Davis Rea Ltd. grew its stake in shares of Imperial Oil by 0.6% during the 2nd quarter. Davis Rea Ltd. now owns 113,799 shares of the energy company’s stock worth $3,327,000 after acquiring an additional 626 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Imperial Oil by 8.5% during the 1st quarter. First Trust Advisors LP now owns 16,310 shares of the energy company’s stock worth $497,000 after acquiring an additional 1,273 shares in the last quarter.
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Shares of Imperial Oil Ltd (IMO) opened at 31.15 on Friday. Imperial Oil Ltd has a one year low of $27.59 and a one year high of $36.85. The firm’s 50-day moving average price is $29.44 and its 200 day moving average price is $29.54. The firm has a market cap of $26.30 billion, a P/E ratio of 12.26 and a beta of 1.14.
Imperial Oil (NYSEMKT:IMO) (TSE:IMO) last announced its quarterly earnings data on Friday, July 28th. The energy company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.30). The business had revenue of $7.03 billion during the quarter, compared to the consensus estimate of $8.40 billion. Imperial Oil had a negative net margin of 1.10% and a negative return on equity of 1.23%. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.21) EPS. Analysts predict that Imperial Oil Ltd will post $0.98 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 1st will be paid a $0.1279 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Wednesday, August 30th. This is an increase from Imperial Oil’s previous quarterly dividend of $0.12. Imperial Oil’s dividend payout ratio is 170.37%.
IMO has been the subject of several recent analyst reports. CIBC downgraded Imperial Oil from a “sector outperform” rating to a “sector perform” rating in a report on Tuesday, May 23rd. BidaskClub raised Imperial Oil from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Zacks Investment Research raised Imperial Oil from a “strong sell” rating to a “hold” rating in a report on Monday, June 19th. National Bank Financial initiated coverage on Imperial Oil in a report on Tuesday, June 27th. They issued a “sector perform” rating for the company. Finally, UBS AG downgraded Imperial Oil from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 5th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $45.44.
Imperial Oil 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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