Burney Co. decreased its stake in shares of Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) by 14.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 23,080 shares of the energy company’s stock after selling 3,920 shares during the period. Burney Co.’s holdings in Imperial Oil were worth $612,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of IMO. First Eagle Investment Management LLC increased its holdings in shares of Imperial Oil by 23.3% during the 1st quarter. First Eagle Investment Management LLC now owns 21,590,993 shares of the energy company’s stock valued at $571,783,000 after acquiring an additional 4,076,398 shares during the last quarter. Schroder Investment Management Group increased its holdings in shares of Imperial Oil by 105.3% during the 4th quarter. Schroder Investment Management Group now owns 1,665,074 shares of the energy company’s stock valued at $65,320,000 after acquiring an additional 853,900 shares during the last quarter. State of Wisconsin Investment Board increased its holdings in shares of Imperial Oil by 397.9% during the 1st quarter. State of Wisconsin Investment Board now owns 280,892 shares of the energy company’s stock valued at $7,434,000 after acquiring an additional 224,477 shares during the last quarter. Luminus Management LLC acquired a new position in shares of Imperial Oil during the 4th quarter valued at about $6,238,000. Finally, Mackenzie Financial Corp increased its holdings in shares of Imperial Oil by 328.7% during the 4th quarter. Mackenzie Financial Corp now owns 182,508 shares of the energy company’s stock valued at $5,692,000 after acquiring an additional 139,939 shares during the last quarter.
Shares of NYSEAMERICAN:IMO opened at $32.75 on Friday. Imperial Oil has a twelve month low of $32.62 and a twelve month high of $32.85.
Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last announced its quarterly earnings data on Friday, April 27th. The energy company reported $0.49 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.11. Imperial Oil had a negative return on equity of 2.22% and a negative net margin of 1.70%. The company had revenue of $7.93 billion during the quarter, compared to the consensus estimate of $8.65 billion. During the same quarter last year, the company earned $0.39 EPS. The company’s quarterly revenue was up 10.9% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, July 1st. Shareholders of record on Friday, June 1st will be given a $0.1479 dividend. The ex-dividend date is Thursday, May 31st. This represents a $0.59 dividend on an annualized basis and a dividend yield of 1.81%. This is an increase from Imperial Oil’s previous quarterly dividend of $0.13.
A number of brokerages have recently commented on IMO. Morgan Stanley lowered their price objective on Imperial Oil from $42.00 to $40.00 and set an “underweight” rating on the stock in a report on Wednesday, January 24th. Royal Bank of Canada raised Imperial Oil from an “underperform” rating to a “sector perform” rating in a report on Wednesday, January 31st. Raymond James downgraded Imperial Oil from a “market perform” rating to an “underperform” rating in a research note on Tuesday, April 24th. TheStreet downgraded Imperial Oil from a “b-” rating to a “c” rating in a research note on Friday, February 2nd. Finally, Bank of America began coverage on Imperial Oil in a research note on Thursday, April 5th. They set an “underperform” rating for the company. Five investment analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $41.60.
Imperial Oil Company Profile
Imperial Oil Limited explores for, produces, and sells crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream, and Chemical. The Upstream segment explores for and produces crude oil, natural gas, synthetic oil, and bitumen. As of December 31, 2017, this segment had 450 million oil-equivalent barrels of proved undeveloped reserves.
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