Guardian Capital Advisors LP Raises Holdings in Imperial Oil Ltd (IMO)
Guardian Capital Advisors LP raised its stake in Imperial Oil Ltd (NYSEMKT:IMO) (TSE:IMO) by 7.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 117,638 shares of the energy company’s stock after purchasing an additional 7,701 shares during the period. Guardian Capital Advisors LP’s holdings in Imperial Oil were worth $4,373,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its holdings in Imperial Oil by 0.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 33,488 shares of the energy company’s stock valued at $977,000 after purchasing an additional 152 shares during the period. Comerica Bank lifted its holdings in shares of Imperial Oil by 1.3% during the 1st quarter. Comerica Bank now owns 13,983 shares of the energy company’s stock worth $411,000 after acquiring an additional 181 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Imperial Oil by 0.4% during the 1st quarter. JPMorgan Chase & Co. now owns 110,053 shares of the energy company’s stock worth $3,355,000 after acquiring an additional 447 shares during the period. Davis Rea Ltd. lifted its holdings in shares of Imperial Oil by 0.6% during the 2nd quarter. Davis Rea Ltd. now owns 113,799 shares of the energy company’s stock worth $3,327,000 after acquiring an additional 626 shares during the period. Finally, Virtu KCG Holdings LLC lifted its holdings in shares of Imperial Oil by 9.7% during the 2nd quarter. Virtu KCG Holdings LLC now owns 9,207 shares of the energy company’s stock worth $268,000 after acquiring an additional 817 shares during the period.
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IMO has been the subject of a number of analyst reports. BidaskClub downgraded shares of Imperial Oil from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Raymond James Financial, Inc. downgraded shares of Imperial Oil from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 5th. Zacks Investment Research downgraded shares of Imperial Oil from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. J P Morgan Chase & Co downgraded shares of Imperial Oil from a “neutral” rating to an “underweight” rating and set a $38.00 price objective for the company. in a report on Thursday, September 14th. Finally, National Bank Financial initiated coverage on shares of Imperial Oil in a report on Tuesday, June 27th. They set a “sector perform” rating for the company. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $44.86.
Shares of Imperial Oil Ltd (NYSEMKT IMO) traded up 0.47% during trading on Friday, reaching $31.94. 209,352 shares of the company traded hands. The stock has a market capitalization of $26.97 billion, a PE ratio of 12.20 and a beta of 1.14. The company has a 50-day moving average of $29.58 and a 200-day moving average of $29.53. Imperial Oil Ltd has a 12 month low of $27.59 and a 12 month high of $36.85.
Imperial Oil (NYSEMKT:IMO) (TSE:IMO) last posted its quarterly earnings data on Friday, July 28th. The energy company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $7.03 billion for the quarter, compared to the consensus estimate of $8.40 billion. During the same period in the prior year, the company earned ($0.21) EPS. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. Analysts forecast that Imperial Oil Ltd will post $0.94 earnings per share for the current fiscal year.
The company also recently disclosed 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 is a boost from Imperial Oil’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.51 annualized dividend and a yield of 1.60%. Imperial Oil’s dividend payout ratio is currently 170.37%.
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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