Korea Investment CORP lowered its stake in shares of Imperial Oil Ltd (NYSEMKT:IMO) (TSE:IMO) by 1.3% during the second quarter, Holdings Channel reports. The firm owned 227,488 shares of the energy company’s stock after selling 3,071 shares during the period. Korea Investment CORP’s holdings in Imperial Oil were worth $6,621,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Shell Asset Management Co. boosted its stake in Imperial Oil by 14.2% in the second quarter. Shell Asset Management Co. now owns 95,893 shares of the energy company’s stock worth $3,625,000 after buying an additional 11,900 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Imperial Oil by 0.4% in the first quarter. JPMorgan Chase & Co. now owns 110,053 shares of the energy company’s stock worth $3,355,000 after buying an additional 447 shares during the last quarter. American Research & Management Co. boosted its stake in Imperial Oil by 4.3% in the first quarter. American Research & Management Co. now owns 48,130 shares of the energy company’s stock worth $1,468,000 after buying an additional 1,970 shares during the last quarter. Morgan Stanley boosted its stake in Imperial Oil by 172.2% in the first quarter. Morgan Stanley now owns 635,896 shares of the energy company’s stock worth $19,394,000 after buying an additional 402,289 shares during the last quarter. Finally, Capstone Asset Management Co. boosted its stake in Imperial Oil by 7.6% in the first quarter. Capstone Asset Management Co. now owns 41,974 shares of the energy company’s stock worth $1,280,000 after buying an additional 2,980 shares during the last quarter.

Imperial Oil Ltd (NYSEMKT IMO) opened at 28.69 on Friday. The company has a 50-day moving average price of $29.13 and a 200-day moving average price of $30.09. The stock has a market cap of $24.22 billion, a price-to-earnings ratio of 11.32 and a beta of 1.14. Imperial Oil Ltd has a 52 week low of $27.59 and a 52 week high of $36.85.

Imperial Oil (NYSEMKT:IMO) (TSE:IMO) last announced its 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 return on equity of 5.31% and a net margin of 4.76%. The business 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 posted ($0.21) EPS. Imperial Oil’s quarterly revenue was up 12.6% on a year-over-year basis. Equities research analysts anticipate that Imperial Oil Ltd will post $1.12 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 1st will be paid a dividend of $0.1279 per share. This is an increase from Imperial Oil’s previous quarterly dividend of $0.12. The ex-dividend date is Wednesday, August 30th. This represents a $0.51 annualized dividend and a dividend yield of 1.78%. Imperial Oil’s dividend payout ratio is 170.37%.

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A number of analysts have recently weighed in on the company. Zacks Investment Research raised Imperial Oil from a “hold” rating to a “strong-buy” rating and set a $33.00 price objective for the company in a research report on Tuesday, May 16th. ValuEngine raised Imperial Oil from a “sell” rating to a “hold” rating in a research report on Thursday, May 11th. Citigroup Inc. reissued a “neutral” rating on shares of Imperial Oil in a research report on Wednesday, August 2nd. Raymond James Financial, Inc. cut Imperial Oil from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 5th. Finally, BidaskClub raised Imperial Oil from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Five equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus 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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Institutional Ownership by Quarter for Imperial Oil (NYSEMKT:IMO)

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