Laurel Wealth Advisors Inc. decreased its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO – Get Rating) (TSE:IMO) by 12.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,140 shares of the energy company’s stock after selling 3,160 shares during the period. Laurel Wealth Advisors Inc.’s holdings in Imperial Oil were worth $1,128,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also made changes to their positions in the company. Marshall Wace LLP acquired a new stake in Imperial Oil in the fourth quarter valued at approximately $2,352,000. Two Sigma Advisers LP boosted its position in Imperial Oil by 8.6% in the fourth quarter. Two Sigma Advisers LP now owns 499,745 shares of the energy company’s stock valued at $24,358,000 after buying an additional 39,700 shares in the last quarter. Two Sigma Investments LP boosted its position in Imperial Oil by 160.4% in the fourth quarter. Two Sigma Investments LP now owns 642,900 shares of the energy company’s stock valued at $31,335,000 after buying an additional 396,056 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Imperial Oil by 3,026.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 514,247 shares of the energy company’s stock valued at $25,039,000 after buying an additional 497,797 shares in the last quarter. Finally, Moran Wealth Management LLC acquired a new stake in Imperial Oil in the fourth quarter valued at approximately $875,000. Institutional investors and hedge funds own 20.18% of the company’s stock.
Analyst Upgrades and Downgrades
IMO has been the topic of a number of research analyst reports. Scotiabank upgraded shares of Imperial Oil from a “sector perform” rating to a “sector outperform” rating in a research report on Tuesday, March 21st. Royal Bank of Canada downgraded shares of Imperial Oil from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $82.00 to $78.00 in a research note on Wednesday, April 12th. Finally, StockNews.com assumed coverage on shares of Imperial Oil in a research note on Thursday, May 18th. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $79.00.
Imperial Oil Price Performance
Imperial Oil (NYSEAMERICAN:IMO – Get Rating) (TSE:IMO) last announced its earnings results on Friday, April 28th. The energy company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.13. The business had revenue of $8.96 billion during the quarter, compared to the consensus estimate of $11.38 billion. Imperial Oil had a net margin of 12.58% and a return on equity of 31.83%. On average, sell-side analysts forecast that Imperial Oil Limited will post 5.7 EPS for the current year.
Imperial Oil Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Saturday, July 1st. Shareholders of record on Friday, June 2nd will be issued a $0.3674 dividend. This represents a $1.47 dividend on an annualized basis and a yield of 2.98%. This is a boost from Imperial Oil’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, June 1st. Imperial Oil’s dividend payout ratio (DPR) is presently 16.54%.
About Imperial Oil
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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