Natixis Advisors L.P. grew its stake in Imperial Oil Limited (NYSEAMERICAN:IMO – Free Report) (TSE:IMO) by 13.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,456 shares of the energy company’s stock after purchasing an additional 1,384 shares during the period. Natixis Advisors L.P.’s holdings in Imperial Oil were worth $582,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Morgan Stanley increased its holdings in Imperial Oil by 91.7% during the 4th quarter. Morgan Stanley now owns 2,557,092 shares of the energy company’s stock worth $124,633,000 after purchasing an additional 1,223,456 shares during the period. Goldman Sachs Group Inc. increased its holdings in 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 worth $72,741,000 after purchasing an additional 911,333 shares during the period. Triasima Portfolio Management inc. purchased a new position in Imperial Oil during the 4th quarter worth $38,289,000. Mackenzie Financial Corp increased its holdings in Imperial Oil by 505.2% during the 1st quarter. Mackenzie Financial Corp now owns 837,145 shares of the energy company’s stock worth $40,576,000 after purchasing an additional 698,818 shares during the period. Finally, Amundi increased its holdings in Imperial Oil by 74.2% during the 4th quarter. Amundi now owns 1,395,344 shares of the energy company’s stock worth $78,059,000 after purchasing an additional 594,260 shares during the period. 20.74% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the company. StockNews.com initiated coverage on Imperial Oil in a report on Wednesday, August 23rd. They set a “hold” rating on the stock. UBS Group initiated coverage on Imperial Oil in a report on Wednesday, July 12th. They issued a “buy” rating on the stock. Finally, CIBC lifted their price target on Imperial Oil from $75.00 to $76.00 and gave the company a “neutral” rating in a report on Tuesday, August 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $79.00.
Imperial Oil Stock Performance
Shares of IMO opened at $58.07 on Thursday. The stock’s 50-day moving average price is $48.76. Imperial Oil Limited has a one year low of $40.20 and a one year high of $58.99. The company has a current ratio of 1.49, a quick ratio of 1.26 and a debt-to-equity ratio of 0.17. The firm has a market cap of $33.79 billion, a PE ratio of 8.26, a P/E/G ratio of 0.40 and a beta of 1.57.
Imperial Oil (NYSEAMERICAN:IMO – Get Free Report) (TSE:IMO) last issued its quarterly earnings results on Friday, July 28th. The energy company reported $0.86 EPS for the quarter, hitting analysts’ consensus estimates of $0.86. Imperial Oil had a return on equity of 23.61% and a net margin of 10.61%. The company had revenue of $8.80 billion during the quarter, compared to analysts’ expectations of $11.55 billion. Analysts predict that Imperial Oil Limited will post 5.21 EPS for the current fiscal year.
Imperial Oil Increases Dividend
The business 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 dividend of $0.3789 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.61%. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.37. Imperial Oil’s dividend payout ratio (DPR) is presently 21.48%.
Imperial Oil Profile
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 for, and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment is involved in the transportation and refining of crude oil, blending of refined products, and the distribution and marketing of refined products.
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