Imperial Oil Limited (NYSEAMERICAN:IMO) Holdings Raised by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 855.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,981 shares of the energy company’s stock after purchasing an additional 32,214 shares during the period. Assenagon Asset Management S.A.’s holdings in Imperial Oil were worth $2,534,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of IMO. Mercer Global Advisors Inc. ADV lifted its stake in Imperial Oil by 5.1% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 3,266 shares of the energy company’s stock worth $223,000 after acquiring an additional 158 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Imperial Oil by 5.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,308 shares of the energy company’s stock worth $237,000 after acquiring an additional 163 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in Imperial Oil by 5.0% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 3,753 shares of the energy company’s stock worth $265,000 after acquiring an additional 178 shares in the last quarter. CWM LLC lifted its stake in Imperial Oil by 8.7% in the 2nd quarter. CWM LLC now owns 2,319 shares of the energy company’s stock worth $158,000 after acquiring an additional 185 shares in the last quarter. Finally, OLD National Bancorp IN lifted its stake in Imperial Oil by 5.6% in the 2nd quarter. OLD National Bancorp IN now owns 3,831 shares of the energy company’s stock worth $261,000 after acquiring an additional 204 shares in the last quarter. 20.74% of the stock is owned by hedge funds and other institutional investors.

Imperial Oil Stock Performance

Shares of NYSEAMERICAN:IMO opened at $74.48 on Friday. Imperial Oil Limited has a twelve month low of $52.97 and a twelve month high of $80.17. The company has a market cap of $39.36 billion, a P/E ratio of 10.55 and a beta of 1.44. The company has a quick ratio of 1.16, a current ratio of 1.40 and a debt-to-equity ratio of 0.17.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last announced 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. Imperial Oil had a return on equity of 22.73% and a net margin of 10.05%. The firm had revenue of $9.78 billion during the quarter, compared to the consensus estimate of $10.50 billion. Research analysts forecast that Imperial Oil Limited will post 6.14 EPS for the current fiscal year.

Imperial Oil Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Wednesday, September 4th were given a $0.4336 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $1.73 dividend on an annualized basis and a dividend yield of 2.33%. Imperial Oil’s dividend payout ratio is currently 25.21%.

Analysts Set New Price Targets

Several brokerages have weighed in on IMO. StockNews.com lowered Imperial Oil from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Wolfe Research began coverage on Imperial Oil in a research report on Thursday, July 18th. They issued an “outperform” rating and a $108.00 target price on the stock. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a $110.00 target price on shares of Imperial Oil in a research report on Wednesday, September 25th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.