Bridges Investment Management Inc. Makes New Investment in Imperial Oil Limited (NYSEAMERICAN:IMO)

Bridges Investment Management Inc. purchased a new stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,700 shares of the energy company’s stock, valued at approximately $253,000.

Other hedge funds also recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new position in shares of Imperial Oil during the second quarter worth about $480,000. Vanguard Personalized Indexing Management LLC grew its stake in Imperial Oil by 19.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 12,633 shares of the energy company’s stock worth $862,000 after buying an additional 2,047 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in Imperial Oil by 5.1% during the second quarter. Mercer Global Advisors Inc. ADV now owns 3,266 shares of the energy company’s stock worth $223,000 after buying an additional 158 shares during the period. Plancorp LLC purchased a new stake in Imperial Oil in the second quarter valued at approximately $2,695,000. Finally, Rathbones Group PLC boosted its holdings in shares of Imperial Oil by 116.1% in the second quarter. Rathbones Group PLC now owns 6,483 shares of the energy company’s stock valued at $442,000 after acquiring an additional 3,483 shares during the period. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

Imperial Oil Trading Down 0.3 %

Imperial Oil stock opened at $68.65 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.16 and a current ratio of 1.40. The stock has a market capitalization of $36.28 billion, a P/E ratio of 10.76 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.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last released its quarterly earnings results on Friday, August 2nd. The energy company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.43 by $0.11. Imperial Oil had a net margin of 10.05% and a return on equity of 22.73%. The business had revenue of $9.78 billion for the quarter, compared to analyst estimates of $10.50 billion. As a group, sell-side analysts predict that Imperial Oil Limited will post 6.29 EPS for the current fiscal year.

Imperial Oil Cuts Dividend

The business 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 dividend of $0.4336 per share. This represents a $1.73 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Wednesday, September 4th. Imperial Oil’s payout ratio is currently 27.90%.

Analysts Set New Price Targets

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

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.