Bank of Montreal Can decreased its position in Imperial Oil Limited (NYSEAMERICAN:IMO – Get Rating) (TSE:IMO) by 32.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,050,710 shares of the energy company’s stock after selling 1,904,506 shares during the quarter. Bank of Montreal Can’s holdings in Imperial Oil were worth $145,126,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Artisan Partners Limited Partnership lifted its holdings in Imperial Oil by 0.5% in the third quarter. Artisan Partners Limited Partnership now owns 29,045,664 shares of the energy company’s stock valued at $917,968,000 after acquiring an additional 143,311 shares during the period. Bank of Nova Scotia lifted its position in Imperial Oil by 1.6% during the 3rd quarter. Bank of Nova Scotia now owns 2,251,176 shares of the energy company’s stock worth $71,134,000 after acquiring an additional 34,735 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Imperial Oil by 49.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,350,130 shares of the energy company’s stock worth $48,729,000 after acquiring an additional 447,480 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Imperial Oil by 5.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,178,031 shares of the energy company’s stock valued at $47,157,000 after purchasing an additional 58,941 shares in the last quarter. Finally, Morgan Stanley raised its position in shares of Imperial Oil by 179.7% in the 2nd quarter. Morgan Stanley now owns 781,244 shares of the energy company’s stock valued at $23,749,000 after purchasing an additional 501,931 shares in the last quarter. 20.97% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently commented on the company. CIBC upped their price objective on Imperial Oil from C$60.00 to C$70.00 in a research note on Thursday, April 14th. TD Securities increased their price objective on Imperial Oil from C$65.00 to C$71.00 in a research note on Thursday, May 5th. Royal Bank of Canada increased their price objective on Imperial Oil from C$65.00 to C$66.00 in a report on Thursday, May 12th. Scotiabank increased their target price on Imperial Oil from C$68.00 to C$72.00 in a research note on Monday, April 18th. Finally, The Goldman Sachs Group upgraded Imperial Oil from a “neutral” rating to a “buy” rating in a research report on Friday, February 11th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $58.71.
Imperial Oil (NYSEAMERICAN:IMO – Get Rating) (TSE:IMO) last issued its earnings results on Friday, April 29th. The energy company reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.78 by ($0.03). Imperial Oil had a return on equity of 8.06% and a net margin of 1.81%. During the same quarter in the prior year, the company posted $0.53 earnings per share. As a group, equities analysts predict that Imperial Oil Limited will post 2.92 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Thursday, June 2nd will be paid a $0.2648 dividend. The ex-dividend date of this dividend is Wednesday, June 1st. This represents a $1.06 annualized dividend and a yield of 2.12%. Imperial Oil’s payout ratio is 164.62%.
Imperial Oil Company Profile (Get Rating)
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 for, and produces crude oil, natural gas, synthetic oil, and bitumen. As of December 31, 2021, this segment had 386 million oil-equivalent barrels of proved undeveloped reserves.
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