Fiera Capital Corp Boosts Stock Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

Fiera Capital Corp increased its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 262.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 95,455 shares of the energy company’s stock after purchasing an additional 69,121 shares during the quarter. Fiera Capital Corp’s holdings in Imperial Oil were worth $6,511,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. increased its holdings in Imperial Oil by 938.5% during the 4th quarter. Assetmark Inc. now owns 810 shares of the energy company’s stock worth $46,000 after acquiring an additional 732 shares during the period. US Bancorp DE increased its holdings in shares of Imperial Oil by 7.6% in the fourth quarter. US Bancorp DE now owns 10,550 shares of the energy company’s stock worth $603,000 after purchasing an additional 746 shares during the period. J. W. Coons Advisors LLC raised its position in shares of Imperial Oil by 5.0% in the fourth quarter. J. W. Coons Advisors LLC now owns 12,015 shares of the energy company’s stock worth $687,000 after buying an additional 575 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in Imperial Oil during the fourth quarter valued at $44,000. Finally, The Manufacturers Life Insurance Company grew its position in Imperial Oil by 95.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 6,597,474 shares of the energy company’s stock worth $376,421,000 after buying an additional 3,225,957 shares in the last quarter. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Imperial Oil Stock Up 2.3 %

Shares of Imperial Oil stock opened at $70.29 on Monday. The firm has a market capitalization of $37.14 billion, a PE ratio of 11.02 and a beta of 1.45. Imperial Oil Limited has a 52-week low of $52.97 and a 52-week high of $77.70. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.40 and a quick ratio of 1.16.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last issued its earnings results on Friday, August 2nd. The energy company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.11. The company had revenue of $9.78 billion during the quarter, compared to analysts’ expectations of $10.50 billion. Imperial Oil had a return on equity of 22.73% and a net margin of 10.05%. Analysts predict that Imperial Oil Limited will post 6.2 earnings per share for the current fiscal year.

Imperial Oil Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Wednesday, September 4th will be paid a dividend of $0.4336 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.73 annualized dividend and a dividend yield of 2.47%. Imperial Oil’s dividend payout ratio (DPR) is presently 27.90%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on IMO shares. Scotiabank reiterated a “sector perform” rating and set a $110.00 target price on shares of Imperial Oil in a research report on Wednesday, September 25th. StockNews.com lowered shares of Imperial Oil from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Finally, Wolfe Research initiated coverage on Imperial Oil in a research report on Thursday, July 18th. They set an “outperform” rating and a $108.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average 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.