Dimensional Fund Advisors LP Sells 192,234 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Dimensional Fund Advisors LP decreased its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 16.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 942,979 shares of the energy company’s stock after selling 192,234 shares during the period. Dimensional Fund Advisors LP owned approximately 0.18% of Imperial Oil worth $64,363,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. RFP Financial Group LLC bought a new stake in shares of Imperial Oil in the second quarter worth $25,000. Hexagon Capital Partners LLC lifted its position in Imperial Oil by 84.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 493 shares of the energy company’s stock worth $34,000 after buying an additional 225 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Imperial Oil during the 1st quarter worth about $46,000. Jones Financial Companies Lllp bought a new position in shares of Imperial Oil in the 4th quarter valued at about $44,000. Finally, Assetmark Inc. increased its position in shares of Imperial Oil by 938.5% in the fourth quarter. Assetmark Inc. now owns 810 shares of the energy company’s stock valued at $46,000 after acquiring an additional 732 shares during the last quarter. 20.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on IMO. Scotiabank reaffirmed a “sector perform” rating and set a $110.00 price target on shares of Imperial Oil in a research report on Wednesday. Wolfe Research initiated 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. Finally, StockNews.com lowered Imperial Oil from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $99.50.

Imperial Oil Stock Up 2.3 %

NYSEAMERICAN:IMO opened at $70.29 on Friday. The stock has a market capitalization of $37.14 billion, a P/E ratio of 11.02 and a beta of 1.45. The company has a current ratio of 1.40, a quick ratio of 1.16 and a debt-to-equity ratio of 0.17. Imperial Oil Limited has a twelve month low of $52.97 and a twelve month high of $77.70.

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, topping analysts’ consensus estimates of $1.43 by $0.11. The firm had revenue of $9.78 billion for 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%. As a group, sell-side analysts predict that Imperial Oil Limited will post 6.2 EPS for the current year.

Imperial Oil Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Wednesday, September 4th will be issued 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 payout ratio is 27.90%.

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.