Imperial Oil Limited (NYSEAMERICAN:IMO) Stock Position Raised by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. raised its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 710.5% in the second quarter, HoldingsChannel reports. The firm owned 91,485 shares of the energy company’s stock after acquiring an additional 80,197 shares during the period. Royal London Asset Management Ltd.’s holdings in Imperial Oil were worth $6,244,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IMO. Triasima Portfolio Management inc. raised its holdings in shares of Imperial Oil by 18.7% during the second quarter. Triasima Portfolio Management inc. now owns 379,050 shares of the energy company’s stock valued at $25,833,000 after acquiring an additional 59,750 shares during the period. Caprock Group LLC bought a new stake in Imperial Oil in the second quarter worth approximately $530,000. TD Asset Management Inc grew its position in Imperial Oil by 12.2% in the second quarter. TD Asset Management Inc now owns 3,796,660 shares of the energy company’s stock worth $258,817,000 after acquiring an additional 412,600 shares in the last quarter. Fiera Capital Corp grew its stake in Imperial Oil by 262.5% in the 2nd quarter. Fiera Capital Corp now owns 95,455 shares of the energy company’s stock valued at $6,511,000 after buying an additional 69,121 shares during the last quarter. Finally, CIBC Asset Management Inc grew its stake in Imperial Oil by 4.2% in the 2nd quarter. CIBC Asset Management Inc now owns 357,112 shares of the energy company’s stock valued at $24,334,000 after buying an additional 14,443 shares during the last quarter. 20.74% of the stock is owned by institutional investors and hedge funds.

Imperial Oil Trading Up 0.5 %

Shares of Imperial Oil stock opened at $66.28 on Friday. The stock has a market cap of $35.03 billion, a price-to-earnings 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 Limited has a 12-month low of $52.97 and a 12-month high of $77.70.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last released its quarterly earnings results on Friday, August 2nd. The energy company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.11. The firm had revenue of $9.78 billion during the quarter, compared to analyst estimates of $10.50 billion. Imperial Oil had a net margin of 10.05% and a return on equity of 22.73%. Equities research analysts anticipate that Imperial Oil Limited will post 6.29 EPS for the current year.

Imperial Oil Cuts Dividend

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

Analysts Set New Price Targets

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

Imperial Oil Company Profile

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.