Franklin Resources Inc. Increases Stake in Imperial Oil Ltd (IMO)
Franklin Resources Inc. lifted its position in Imperial Oil Ltd (NYSEMKT:IMO) (TSE:IMO) by 10.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 573,247 shares of the energy company’s stock after acquiring an additional 53,303 shares during the period. Franklin Resources Inc. owned 0.07% of Imperial Oil worth $16,718,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in IMO. Quantbot Technologies LP purchased a new position in shares of Imperial Oil in the 1st quarter worth $129,000. Pacad Investment Ltd. boosted its stake in shares of Imperial Oil by 46.9% in the 2nd quarter. Pacad Investment Ltd. now owns 7,200 shares of the energy company’s stock worth $210,000 after buying an additional 2,300 shares during the last quarter. Nexus Investment Management Inc. purchased a new position in shares of Imperial Oil in the 2nd quarter worth $227,000. Comerica Bank boosted its stake in shares of Imperial Oil by 1.3% in the 1st quarter. Comerica Bank now owns 13,983 shares of the energy company’s stock worth $411,000 after buying an additional 181 shares during the last quarter. Finally, World Asset Management Inc boosted its stake in shares of Imperial Oil by 1.3% in the 1st quarter. World Asset Management Inc now owns 15,175 shares of the energy company’s stock worth $463,000 after buying an additional 193 shares during the last quarter.
A number of equities analysts have recently issued reports on the company. UBS AG downgraded Imperial Oil from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 5th. Citigroup Inc. restated a “neutral” rating on shares of Imperial Oil in a research note on Wednesday, August 2nd. Zacks Investment Research cut Imperial Oil from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Barclays PLC raised Imperial Oil from an “equal weight” rating to an “overweight” rating in a report on Tuesday, July 11th. Finally, BidaskClub cut Imperial Oil from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $45.44.
Shares of Imperial Oil Ltd (NYSEMKT:IMO) opened at 31.63 on Friday. The company has a market capitalization of $26.71 billion, a PE ratio of 12.45 and a beta of 1.14. The stock has a 50 day moving average price of $29.58 and a 200 day moving average price of $29.53. Imperial Oil Ltd has a one year low of $27.59 and a one year high of $36.85.
Imperial Oil (NYSEMKT:IMO) (TSE:IMO) last released its quarterly earnings results on Friday, July 28th. The energy company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.30). Imperial Oil had a negative return on equity of 1.23% and a negative net margin of 1.10%. The company had revenue of $7.03 billion for the quarter, compared to analyst estimates of $8.40 billion. During the same quarter last year, the company earned ($0.21) EPS. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, equities research analysts predict that Imperial Oil Ltd will post $0.92 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 1st will be given a dividend of $0.1279 per share. This represents a $0.51 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Wednesday, August 30th. This is an increase from Imperial Oil’s previous quarterly dividend of $0.12. Imperial Oil’s dividend payout ratio is 170.37%.
Imperial Oil Company Profile
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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