Imperial Oil Limited (NYSEAMERICAN:IMO) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. decreased its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,486,144 shares of the energy company’s stock after selling 146,118 shares during the period. Vanguard Group Inc. owned 1.21% of Imperial Oil worth $370,943,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of IMO. The Manufacturers Life Insurance Company boosted its holdings in shares of Imperial Oil by 95.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 6,597,474 shares of the energy company’s stock valued at $376,421,000 after buying an additional 3,225,957 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in Imperial Oil by 1.4% during the 4th quarter. First Eagle Investment Management LLC now owns 22,495,313 shares of the energy company’s stock worth $1,281,608,000 after purchasing an additional 316,009 shares during the period. Point72 Asset Management L.P. boosted its stake in Imperial Oil by 35.6% during the 4th quarter. Point72 Asset Management L.P. now owns 1,120,229 shares of the energy company’s stock worth $63,913,000 after purchasing an additional 293,910 shares during the period. TD Asset Management Inc boosted its stake in Imperial Oil by 25.7% during the 4th quarter. TD Asset Management Inc now owns 1,124,294 shares of the energy company’s stock worth $64,357,000 after purchasing an additional 229,953 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Imperial Oil by 296.1% during the 3rd quarter. Wellington Management Group LLP now owns 177,533 shares of the energy company’s stock worth $10,984,000 after purchasing an additional 132,713 shares during the period. Institutional investors and hedge funds own 20.74% of the company’s stock.

Imperial Oil Stock Performance

Shares of Imperial Oil stock opened at $69.09 on Friday. The firm has a market cap of $37.02 billion, a price-to-earnings ratio of 10.83 and a beta of 1.45. The company has a quick ratio of 1.04, a current ratio of 1.34 and a debt-to-equity ratio of 0.17. Imperial Oil Limited has a one year low of $48.26 and a one year high of $74.58.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last announced its quarterly earnings data on Friday, April 26th. The energy company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.10. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $11.61 billion. Imperial Oil had a net margin of 9.46% and a return on equity of 20.76%. On average, equities research analysts forecast that Imperial Oil Limited will post 6.29 earnings per share for the current fiscal year.

Imperial Oil Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a $0.4377 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.75 dividend on an annualized basis and a dividend yield of 2.53%. Imperial Oil’s dividend payout ratio is presently 27.59%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IMO. StockNews.com cut shares of Imperial Oil from a “buy” rating to a “hold” rating in a research note on Tuesday. Raymond James upgraded shares of Imperial Oil to a “hold” rating in a research note on Tuesday, May 28th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Imperial Oil presently has a consensus rating of “Hold” and an average target price of $85.33.

Imperial Oil 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.