International Assets Investment Management LLC Makes New $14.89 Million Investment in Imperial Oil Limited (NYSEAMERICAN:IMO)

International Assets Investment Management LLC bought a new stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 21,135 shares of the energy company's stock, valued at approximately $14,890,000.

A number of other institutional investors and hedge funds have also made changes to their positions in IMO. TD Asset Management Inc grew its position in Imperial Oil by 12.2% in the 2nd quarter. TD Asset Management Inc now owns 3,796,660 shares of the energy company's stock valued at $258,817,000 after buying an additional 412,600 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Imperial Oil by 10,896.4% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 867,174 shares of the energy company's stock valued at $59,135,000 after acquiring an additional 859,288 shares during the period. Toronto Dominion Bank increased its stake in shares of Imperial Oil by 14.7% during the second quarter. Toronto Dominion Bank now owns 822,478 shares of the energy company's stock valued at $56,134,000 after acquiring an additional 105,205 shares during the period. Capital World Investors lifted its position in Imperial Oil by 134.0% in the first quarter. Capital World Investors now owns 747,929 shares of the energy company's stock worth $51,588,000 after purchasing an additional 428,252 shares during the period. Finally, Jupiter Asset Management Ltd. acquired a new stake in Imperial Oil in the second quarter worth approximately $40,729,000. 20.74% of the stock is currently owned by institutional investors and hedge funds.

Imperial Oil Stock Performance

Shares of IMO traded up $0.27 during trading hours on Wednesday, hitting $74.23. 494,303 shares of the company were exchanged, compared to its average volume of 398,459. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.16 and a current ratio of 1.40. Imperial Oil Limited has a 52 week low of $52.97 and a 52 week high of $80.17. The company has a market cap of $39.23 billion, a PE ratio of 10.51 and a beta of 1.44.

Imperial Oil (NYSEAMERICAN:IMO - Get Free Report) TSE: IMO last posted its quarterly earnings data on Friday, August 2nd. The energy company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.11. The business had revenue of $9.78 billion during the quarter, compared to the consensus estimate of $10.50 billion. Imperial Oil had a net margin of 10.05% and a return on equity of 22.73%. As a group, equities research analysts forecast that Imperial Oil Limited will post 6.14 earnings per share for the current fiscal year.

Imperial Oil Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Wednesday, September 4th were given a dividend of $0.4336 per share. This represents a $1.73 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend was Wednesday, September 4th. Imperial Oil's dividend payout ratio (DPR) is currently 25.21%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on IMO shares. StockNews.com downgraded shares of Imperial Oil from a "buy" rating to a "hold" rating in a report on Wednesday, August 28th. Wolfe Research assumed coverage on Imperial Oil in a report on Thursday, July 18th. They issued an "outperform" rating and a $108.00 price target on the stock. Finally, Scotiabank reiterated a "sector perform" rating and set a $110.00 price objective on shares of Imperial Oil in a research report on Wednesday, September 25th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $99.50.

Imperial Oil Company 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 and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment transports and refines crude oil, blends refined products, and distributes and markets of refined products.