Dimensional Fund Advisors LP Increases Position in Imperial Oil Ltd (NYSEMKT:IMO)
Dimensional Fund Advisors LP increased its position in shares of Imperial Oil Ltd (NYSEMKT:IMO) (TSE:IMO) by 9.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 579,518 shares of the energy company’s stock after buying an additional 47,689 shares during the period. Dimensional Fund Advisors LP’s holdings in Imperial Oil were worth $17,675,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. NorthCoast Asset Management LLC raised its stake in shares of Imperial Oil by 32.2% in the first quarter. NorthCoast Asset Management LLC now owns 50,084 shares of the energy company’s stock worth $1,528,000 after buying an additional 12,207 shares during the period. Geode Capital Management LLC acquired a new position in Imperial Oil during the first quarter worth $4,449,000. Vanguard Group Inc. increased its position in Imperial Oil by 3.7% in the first quarter. Vanguard Group Inc. now owns 6,268,027 shares of the energy company’s stock worth $191,175,000 after buying an additional 224,715 shares in the last quarter. Ngam Advisors L.P. increased its position in Imperial Oil by 13.2% in the first quarter. Ngam Advisors L.P. now owns 16,358 shares of the energy company’s stock worth $499,000 after buying an additional 1,907 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in Imperial Oil by 8.4% in the first quarter. Alliancebernstein L.P. now owns 46,309 shares of the energy company’s stock worth $1,412,000 after buying an additional 3,591 shares in the last quarter.
Shares of Imperial Oil Ltd (NYSEMKT IMO) traded up 0.24% on Friday, reaching $28.76. 232,516 shares of the company traded hands. The stock has a 50 day moving average of $29.13 and a 200 day moving average of $30.06. Imperial Oil Ltd has a 52-week low of $27.59 and a 52-week high of $36.85. The stock has a market cap of $24.28 billion, a price-to-earnings ratio of 11.35 and a beta of 1.14.
Imperial Oil (NYSEMKT:IMO) (TSE:IMO) last announced its quarterly earnings results on Friday, July 28th. The energy company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.23 by $0.30. The firm had revenue of $7.03 billion during the quarter, compared to analyst estimates of $8.40 billion. Imperial Oil had a net margin of 4.76% and a return on equity of 5.31%. The business’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.21) EPS. On average, analysts expect that Imperial Oil Ltd will post $1.12 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 1st will be paid a $0.1279 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.51 dividend on an annualized basis and a yield of 1.78%. This is a boost from Imperial Oil’s previous quarterly dividend of $0.12. Imperial Oil’s dividend payout ratio (DPR) is currently 170.37%.
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A number of research firms have recently weighed in on IMO. UBS AG downgraded shares of Imperial Oil from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 5th. Citigroup Inc. restated a “neutral” rating on shares of Imperial Oil in a report on Wednesday, August 2nd. Barclays PLC upgraded shares of Imperial Oil from an “equal weight” rating to an “overweight” rating in a report on Tuesday, July 11th. Zacks Investment Research upgraded shares of Imperial Oil from a “strong sell” rating to a “hold” rating in a report on Monday, June 19th. Finally, National Bank Financial began coverage on shares of Imperial Oil in a report on Tuesday, June 27th. They set a “sector perform” rating on the stock. Five investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price 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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