BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $59.14 Million Stock Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 10,896.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 867,174 shares of the energy company’s stock after buying an additional 859,288 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.16% of Imperial Oil worth $59,135,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of IMO. RFP Financial Group LLC purchased a new position in Imperial Oil in the second quarter valued at about $25,000. Hexagon Capital Partners LLC grew its position in Imperial Oil by 84.0% in the first quarter. Hexagon Capital Partners LLC now owns 493 shares of the energy company’s stock worth $34,000 after acquiring an additional 225 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Imperial Oil during the 4th quarter worth $44,000. Assetmark Inc. boosted its holdings in Imperial Oil by 938.5% in the fourth quarter. Assetmark Inc. now owns 810 shares of the energy company’s stock worth $46,000 after purchasing an additional 732 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in Imperial Oil during the first quarter valued at about $46,000. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Imperial Oil Price Performance

IMO stock opened at $70.26 on Tuesday. 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 twelve month low of $52.97 and a twelve month high of $77.70. The stock has a market cap of $37.13 billion, a P/E ratio of 11.01 and a beta of 1.45.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last posted its 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 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 analysts’ expectations of $10.50 billion. As a group, equities research analysts expect that Imperial Oil Limited will post 6.29 EPS 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. Investors of record on Wednesday, September 4th will be given a dividend of $0.4336 per share. This represents a $1.73 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Wednesday, September 4th. Imperial Oil’s dividend payout ratio (DPR) is currently 27.90%.

Wall Street Analysts Forecast Growth

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

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.