Commonwealth Equity Services LLC Has $1.23 Million Stock Holdings in Imperial Oil Limited (NYSEAMERICAN:IMO)

Commonwealth Equity Services LLC decreased its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 5.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,957 shares of the energy company’s stock after selling 1,112 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Imperial Oil were worth $1,226,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Manning & Napier Advisors LLC acquired a new stake in shares of Imperial Oil during the second quarter worth about $3,064,000. US Bancorp DE raised its holdings in Imperial Oil by 91.6% during the 1st quarter. US Bancorp DE now owns 20,210 shares of the energy company’s stock worth $1,397,000 after buying an additional 9,660 shares during the period. Intech Investment Management LLC bought a new position in Imperial Oil in the first quarter valued at approximately $720,000. Bessemer Group Inc. boosted its holdings in shares of Imperial Oil by 1,250.9% in the first quarter. Bessemer Group Inc. now owns 7,849 shares of the energy company’s stock valued at $542,000 after buying an additional 7,268 shares during the period. Finally, Empowered Funds LLC bought a new stake in shares of Imperial Oil during the first quarter worth $931,000. Institutional investors and hedge funds own 20.74% of the company’s stock.

Analyst Upgrades and Downgrades

IMO has been the subject of a number of research analyst reports. Raymond James raised shares of Imperial Oil to a “hold” rating in a research note on Tuesday, May 28th. Scotiabank reduced their price objective on Imperial Oil from $111.00 to $110.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. StockNews.com downgraded Imperial Oil from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Finally, Wolfe Research initiated coverage on Imperial Oil in a research note on Thursday, July 18th. They issued an “outperform” rating and a $108.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $99.50.

Imperial Oil Stock Up 0.5 %

NYSEAMERICAN:IMO opened at $66.28 on Monday. Imperial Oil Limited has a 52-week low of $52.97 and a 52-week high of $77.70. The stock has a market capitalization of $35.03 billion, a P/E ratio of 10.39 and a beta of 1.45. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.16 and a current ratio of 1.40.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last posted its quarterly earnings results on Friday, August 2nd. The energy company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.11. Imperial Oil had a return on equity of 22.73% and a net margin of 10.05%. The business had revenue of $9.78 billion for the quarter, compared to analysts’ expectations of $10.50 billion. On average, analysts expect that Imperial Oil Limited will post 6.29 earnings per share for the current fiscal year.

Imperial Oil Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Wednesday, September 4th will be issued a $0.4336 dividend. This represents a $1.73 annualized dividend and a yield of 2.62%. The ex-dividend date is Wednesday, September 4th. Imperial Oil’s dividend payout ratio is currently 27.90%.

About Imperial Oil

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.