Parametric Portfolio Associates LLC grew its holdings in Imperial Oil Ltd (NYSEMKT:IMO) (TSE:IMO) by 9.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 116,391 shares of the energy company’s stock after acquiring an additional 9,906 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Imperial Oil were worth $3,396,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Imperial Oil by 3.6% in the second quarter. Vanguard Group Inc. now owns 6,492,668 shares of the energy company’s stock valued at $189,456,000 after acquiring an additional 224,641 shares during the period. Northern Trust Corp boosted its position in shares of Imperial Oil by 0.9% in the second quarter. Northern Trust Corp now owns 428,847 shares of the energy company’s stock valued at $12,513,000 after acquiring an additional 3,697 shares during the period. Pinebridge Investments L.P. bought a new stake in shares of Imperial Oil in the second quarter valued at approximately $1,407,000. Artisan Partners Limited Partnership boosted its position in shares of Imperial Oil by 24.9% in the second quarter. Artisan Partners Limited Partnership now owns 21,292,920 shares of the energy company’s stock valued at $620,660,000 after acquiring an additional 4,243,469 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of Imperial Oil by 0.5% in the second quarter. PNC Financial Services Group Inc. now owns 33,488 shares of the energy company’s stock valued at $977,000 after acquiring an additional 152 shares during the period.
Imperial Oil (NYSEMKT:IMO) (TSE:IMO) last released its quarterly earnings results on Friday, October 27th. The energy company reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.03). The firm had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $6.58 billion. Imperial Oil had a negative net margin of 1.10% and a negative return on equity of 1.23%. During the same quarter last year, the firm earned $1.18 earnings per share.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 1st will be paid a $0.125 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.50 annualized dividend and a yield of 1.54%. Imperial Oil’s dividend payout ratio (DPR) is presently 170.37%.
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Several equities research analysts have recently weighed in on IMO shares. TheStreet raised Imperial Oil from a “c” rating to a “b-” rating in a research report on Friday, October 27th. Morgan Stanley upped their target price on Imperial Oil from $36.00 to $42.00 and gave the company an “underweight” rating in a research note on Friday, October 13th. BidaskClub upgraded Imperial Oil from a “hold” rating to a “buy” rating in a research note on Tuesday, September 12th. AltaCorp Capital lowered Imperial Oil from a “sector perform” rating to an “underperform” rating in a research note on Wednesday, August 23rd. Finally, Zacks Investment Research lowered Imperial Oil from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Six research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average 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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