Canada Pension Plan Investment Board decreased its position in shares of Imperial Oil Ltd (NYSEAMERICAN:IMO) (TSE:IMO) by 95.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,710 shares of the energy company’s stock after selling 315,990 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Imperial Oil were worth $501,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Crossmark Global Holdings Inc. bought a new position in Imperial Oil in the third quarter worth approximately $1,483,000. Highstreet Asset Management Inc. raised its position in shares of Imperial Oil by 80.3% during the 3rd quarter. Highstreet Asset Management Inc. now owns 58,338 shares of the energy company’s stock valued at $1,864,000 after purchasing an additional 25,988 shares during the period. Korea Investment CORP raised its position in shares of Imperial Oil by 7.6% during the 3rd quarter. Korea Investment CORP now owns 244,779 shares of the energy company’s stock valued at $7,801,000 after purchasing an additional 17,291 shares during the period. Aperio Group LLC raised its position in shares of Imperial Oil by 13.5% during the 3rd quarter. Aperio Group LLC now owns 81,767 shares of the energy company’s stock valued at $2,612,000 after purchasing an additional 9,718 shares during the period. Finally, Rathbone Brothers plc bought a new stake in Imperial Oil in the 3rd quarter valued at $214,000.
A number of analysts have issued reports on the stock. Canaccord Genuity reiterated a “hold” rating and issued a $45.00 price target on shares of Imperial Oil in a report on Thursday, November 2nd. Barclays cut shares of Imperial Oil from an “overweight” rating to an “underweight” rating in a research note on Thursday, November 2nd. Royal Bank Of Canada cut shares of Imperial Oil from a “sector perform” rating to an “underperform” rating in a research note on Thursday, November 2nd. TheStreet raised shares of Imperial Oil from a “c” rating to a “b-” rating in a research note on Friday, October 27th. Finally, BidaskClub cut shares of Imperial Oil from a “buy” rating to a “hold” rating in a research note on Saturday, October 7th. Eight analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $41.25.
Imperial Oil Ltd (NYSEAMERICAN IMO) traded down $0.14 during trading hours on Thursday, reaching $30.88. 107,815 shares of the company’s stock traded hands, compared to its average volume of 239,605. Imperial Oil Ltd has a 12 month low of $27.59 and a 12 month high of $36.85.
Imperial Oil (NYSEAMERICAN: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). The company had revenue of $5.71 billion for the quarter, compared to analysts’ expectations of $6.58 billion. Imperial Oil had a return on equity of 5.95% and a net margin of 5.19%. During the same period in the prior year, the firm posted $1.18 EPS.
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 issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Thursday, November 30th. Imperial Oil’s dividend payout ratio (DPR) is presently 26.04%.
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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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