Sumitomo Mitsui Trust Holdings Inc. Reduces Stake in Imperial Oil Ltd (IMO)
Sumitomo Mitsui Trust Holdings Inc. cut its position in Imperial Oil Ltd (NYSEAMERICAN:IMO) (TSE:IMO) by 2.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 820,944 shares of the energy company’s stock after selling 19,100 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.10% of Imperial Oil worth $26,212,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacad Investment Ltd. grew its stake in shares of Imperial Oil by 46.9% in the second quarter. Pacad Investment Ltd. now owns 7,200 shares of the energy company’s stock valued at $210,000 after buying an additional 2,300 shares in the last quarter. Rathbone Brothers plc acquired a new position in Imperial Oil during the 3rd quarter worth $214,000. Ameriprise Financial Inc. grew its stake in Imperial Oil by 12.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,222 shares of the energy company’s stock worth $241,000 after purchasing an additional 900 shares in the last quarter. Virtu KCG Holdings LLC grew its stake in 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 purchasing an additional 817 shares in the last quarter. Finally, Cumberland Partners Ltd acquired a new position in Imperial Oil during the 3rd quarter worth $433,000.
Several research analysts recently commented on IMO shares. BidaskClub cut Imperial Oil from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Morgan Stanley boosted their target price on Imperial Oil from $36.00 to $42.00 and gave the stock an “underweight” rating in a research note on Friday, October 13th. TheStreet raised Imperial Oil from a “c” rating to a “b-” rating in a research note on Friday, October 27th. Royal Bank Of Canada cut Imperial Oil from a “sector perform” rating to an “underperform” rating in a research note on Thursday, November 2nd. Finally, J P Morgan Chase & Co cut Imperial Oil from a “neutral” rating to an “underweight” rating and set a $38.00 target price for the company. in a research note on Thursday, September 14th. Eight analysts have rated the stock with a sell rating and nine have given a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $41.25.
Imperial Oil Ltd (NYSEAMERICAN IMO) traded down $0.07 during trading hours on Friday, hitting $31.16. The stock had a trading volume of 42,946 shares, compared to its average volume of 233,152. Imperial Oil Ltd has a twelve month low of $27.59 and a twelve month high of $36.85.
Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last released its quarterly earnings data on Friday, October 27th. The energy company reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.03). The business had revenue of $5.71 billion for the quarter, compared to analyst estimates of $6.58 billion. Imperial Oil had a return on equity of 5.95% and a net margin of 5.19%. During the same period in the prior year, the company posted $1.18 earnings per share.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 1st will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.50 annualized dividend and a dividend yield of 1.60%. Imperial Oil’s dividend payout ratio is currently 26.56%.
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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