Davis Rea Ltd. Raises Stake in Imperial Oil Ltd (IMO)
Davis Rea Ltd. raised its stake in Imperial Oil Ltd (NYSEMKT:IMO) (TSE:IMO) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 113,799 shares of the energy company’s stock after buying an additional 626 shares during the period. Imperial Oil makes up about 2.1% of Davis Rea Ltd.’s holdings, making the stock its 20th largest position. Davis Rea Ltd.’s holdings in Imperial Oil were worth $3,327,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mawer Investment Management Ltd. raised its position in Imperial Oil by 210.3% in the first quarter. Mawer Investment Management Ltd. now owns 8,368,089 shares of the energy company’s stock valued at $380,132,000 after buying an additional 5,671,213 shares during the last quarter. First Eagle Investment Management LLC raised its position in shares of Imperial Oil by 62.2% in the first quarter. First Eagle Investment Management LLC now owns 8,487,803 shares of the energy company’s stock worth $258,241,000 after buying an additional 3,255,924 shares in the last quarter. American Century Companies Inc. raised its position in shares of Imperial Oil by 11.6% in the first quarter. American Century Companies Inc. now owns 10,008,780 shares of the energy company’s stock worth $304,965,000 after buying an additional 1,042,255 shares in the last quarter. TD Asset Management Inc. raised its position in shares of Imperial Oil by 10.2% in the second quarter. TD Asset Management Inc. now owns 8,573,953 shares of the energy company’s stock worth $249,559,000 after buying an additional 794,733 shares in the last quarter. Finally, Scout Investments Inc. raised its position in shares of Imperial Oil by 146.5% in the first quarter. Scout Investments Inc. now owns 1,263,569 shares of the energy company’s stock worth $42,203,000 after buying an additional 751,060 shares in the last quarter.
Imperial Oil Ltd (NYSEMKT IMO) opened at 29.21 on Thursday. The company has a market capitalization of $24.66 billion, a P/E ratio of 11.52 and a beta of 1.14. Imperial Oil Ltd has a 1-year low of $27.59 and a 1-year high of $36.85. The firm has a 50-day moving average price of $29.14 and a 200 day moving average price of $30.10.
Imperial Oil (NYSEMKT:IMO) (TSE:IMO) last issued its quarterly earnings data on Friday, July 28th. The energy company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.23 by $0.30. Imperial Oil had a net margin of 4.76% and a return on equity of 5.31%. The business had revenue of $7.03 billion during the quarter, compared to analyst estimates of $8.40 billion. During the same period in the previous year, the business posted ($0.21) earnings per share. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, equities analysts predict that Imperial Oil Ltd will post $1.12 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 1st will be issued a $0.1279 dividend. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.12. This represents a $0.51 annualized dividend and a yield of 1.76%. The ex-dividend date is Wednesday, August 30th. Imperial Oil’s dividend payout ratio (DPR) is presently 170.37%.
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A number of equities research analysts have recently issued reports on IMO shares. Zacks Investment Research raised shares of Imperial Oil from a “strong sell” rating to a “hold” rating in a report on Monday, June 19th. CIBC downgraded shares of Imperial Oil from a “sector outperform” rating to a “sector perform” rating in a research note on Tuesday, May 23rd. Raymond James Financial, Inc. raised shares of Imperial Oil from a “market perform” rating to an “outperform” rating in a research note on Wednesday, April 12th. BidaskClub downgraded shares of Imperial Oil from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Finally, National Bank Financial began coverage on shares of Imperial Oil in a research note on Tuesday, June 27th. They set a “sector perform” rating on the stock. Five investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the stock. Imperial Oil currently has an average rating of “Hold” and an average price target of $44.78.
About Imperial Oil
Imperial Oil Limited is an integrated oil company. The Company is engaged in all the phases of the petroleum industry in Canada, including exploration for, and production and sale of, crude oil and natural gas. Its operations are conducted in three segments: Upstream, Downstream and Chemical. The Upstream operations include the exploration for, and production of, crude oil, natural gas, synthetic oil and bitumen.
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