Pacer Advisors Inc. Sells 16,428 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Pacer Advisors Inc. reduced its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 6.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 250,568 shares of the energy company’s stock after selling 16,428 shares during the period. Pacer Advisors Inc.’s holdings in Imperial Oil were worth $17,101,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of IMO. RFP Financial Group LLC bought a new stake in Imperial Oil during the second quarter valued at approximately $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 bought a new position in Imperial Oil in the fourth quarter valued at $44,000. Assetmark Inc. raised its position in Imperial Oil by 938.5% during the fourth quarter. Assetmark Inc. now owns 810 shares of the energy company’s stock valued at $46,000 after purchasing an additional 732 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in Imperial Oil during the first quarter worth about $46,000. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IMO. Wolfe Research initiated coverage on shares of Imperial Oil in a research note on Thursday, July 18th. They issued an “outperform” rating and a $108.00 price objective for the company. StockNews.com downgraded shares of Imperial Oil from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Scotiabank reduced their price objective on Imperial Oil from $111.00 to $110.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Finally, Raymond James raised Imperial Oil to a “hold” rating in a research note on Tuesday, May 28th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Imperial Oil has a consensus rating of “Hold” and an average target price of $99.50.

Imperial Oil Trading Down 0.3 %

NYSEAMERICAN:IMO opened at $68.65 on Monday. The firm 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 twelve month low of $52.97 and a twelve month high of $77.70. 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 (NYSEAMERICAN:IMO) (TSE:IMO) last released its quarterly 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. The business had revenue of $9.78 billion for the quarter, compared to analysts’ expectations of $10.50 billion. Imperial Oil had a net margin of 10.05% and a return on equity of 22.73%. On average, analysts expect that Imperial Oil Limited will post 6.29 EPS for the current year.

Imperial Oil Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders 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 2.53%. The ex-dividend date of this dividend is Wednesday, September 4th. Imperial Oil’s dividend payout ratio (DPR) is presently 27.90%.

Imperial Oil Company 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.