Korea Investment CORP increased its position in shares of Imperial Oil Ltd (NYSEMKT:IMO) (TSE:IMO) by 7.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 244,779 shares of the energy company’s stock after acquiring an additional 17,291 shares during the quarter. Korea Investment CORP’s holdings in Imperial Oil were worth $7,801,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in IMO. Pacad Investment Ltd. raised its holdings in shares of Imperial Oil by 46.9% during the second quarter. Pacad Investment Ltd. now owns 7,200 shares of the energy company’s stock valued at $210,000 after acquiring an additional 2,300 shares during the period. Rathbone Brothers plc purchased a new position in Imperial Oil during the third quarter valued at approximately $214,000. Nexus Investment Management Inc. purchased a new position in Imperial Oil during the second quarter valued at approximately $227,000. Ameriprise Financial Inc. grew its position in Imperial Oil by 12.3% during the second quarter. Ameriprise Financial Inc. now owns 8,222 shares of the energy company’s stock valued at $241,000 after purchasing an additional 900 shares in the last quarter. Finally, Virtu KCG Holdings LLC grew its position in Imperial Oil by 9.7% during the second quarter. Virtu KCG Holdings LLC now owns 9,207 shares of the energy company’s stock valued at $268,000 after purchasing an additional 817 shares in the last quarter.
Imperial Oil (NYSEMKT:IMO) (TSE:IMO) last released its earnings results on Friday, October 27th. The energy company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.03). Imperial Oil had a negative net margin of 1.10% and a negative return on equity of 1.23%. The firm had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $6.58 billion. During the same period in the prior year, the business posted $1.18 earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 1st will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.50 dividend on an annualized basis and a yield of 1.54%. Imperial Oil’s dividend payout ratio (DPR) is 170.37%.
A number of brokerages recently commented on IMO. Royal Bank Of Canada reaffirmed a “hold” rating and set a $40.00 price objective on shares of Imperial Oil in a research report on Monday, October 16th. J P Morgan Chase & Co downgraded shares of Imperial Oil from a “neutral” rating to an “underweight” rating and set a $38.00 price objective on the stock. in a research report on Thursday, September 14th. Citigroup Inc. reaffirmed a “neutral” rating on shares of Imperial Oil in a research report on Wednesday, August 2nd. BidaskClub raised shares of Imperial Oil from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Finally, Zacks Investment Research downgraded shares of Imperial Oil from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. Eight research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. Imperial Oil presently has a consensus rating of “Hold” and a consensus target price of $43.00.
About Imperial Oil
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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