Assenagon Asset Management S.A. grew its stake in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 855.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,981 shares of the energy company's stock after purchasing an additional 32,214 shares during the period. Assenagon Asset Management S.A.'s holdings in Imperial Oil were worth $2,534,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of IMO. RFP Financial Group LLC bought a new position in Imperial Oil during the 2nd quarter valued at about $25,000. Grove Bank & Trust grew its stake in shares of Imperial Oil by 438.0% during the third quarter. Grove Bank & Trust now owns 538 shares of the energy company's stock valued at $38,000 after buying an additional 438 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Imperial Oil in the first quarter worth approximately $46,000. Hexagon Capital Partners LLC lifted its stake in shares of Imperial Oil by 45.6% during the 2nd quarter. Hexagon Capital Partners LLC now owns 718 shares of the energy company's stock worth $49,000 after acquiring an additional 225 shares during the last quarter. Finally, Oakworth Capital Inc. purchased a new position in Imperial Oil during the 3rd quarter valued at $101,000. Hedge funds and other institutional investors own 20.74% of the company's stock.
Analyst Ratings Changes
Several research firms have issued reports on IMO. Wolfe Research assumed coverage on shares of Imperial Oil in a research report on Thursday, July 18th. They issued an "outperform" rating and a $108.00 price objective for the company. StockNews.com cut Imperial Oil from a "buy" rating to a "hold" rating in a research note on Wednesday, August 28th. Finally, Scotiabank reaffirmed a "sector perform" rating and set a $110.00 target price on shares of Imperial Oil in a research report on Wednesday, September 25th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Imperial Oil has an average rating of "Hold" and a consensus price target of $99.50.
Get Our Latest Stock Analysis on Imperial Oil
Imperial Oil Trading Down 5.0 %
Imperial Oil stock traded down $3.76 during mid-day trading on Friday, reaching $70.72. 745,964 shares of the company traded hands, compared to its average volume of 400,331. Imperial Oil Limited has a fifty-two week low of $52.97 and a fifty-two week high of $80.17. The company has a current ratio of 1.40, a quick ratio of 1.16 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $37.37 billion, a price-to-earnings ratio of 10.50 and a beta of 1.44.
Imperial Oil (NYSEAMERICAN:IMO - Get Free Report) TSE: IMO last released its quarterly earnings data on Friday, August 2nd. The energy company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.43 by $0.11. The business had revenue of $9.78 billion for 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%. Analysts predict that Imperial Oil Limited will post 6.14 EPS for the current year.
Imperial Oil Cuts Dividend
The business also recently declared 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 annualized dividend and a yield of 2.45%. The ex-dividend date was Wednesday, September 4th. Imperial Oil's dividend payout ratio is currently 25.21%.
About Imperial Oil
(
Free Report)
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.
Further Reading
Before you consider Imperial Oil, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Imperial Oil wasn't on the list.
While Imperial Oil currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Click the link below to learn more about using beta to protect yourself.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
