Imperial Oil Limited $IMO Stock Position Cut by Tidal Investments LLC

Key Points

• Tidal Investments cut its Imperial Oil stake by 21.4% in the second quarter, selling 12,321 shares and retaining 45,356 shares valued at approximately $5.1 million.
• Imperial Oil reported strong quarterly results, with EPS of $4.52 beating estimates of $2.99 and revenue rising 43% year over year to $11.31 billion.
• The company declared a quarterly dividend of $0.87 per share, representing a 2.7% annualized yield, while analysts maintained a cautious outlook with a consensus “Strong Sell” rating and a $116 price target.

Tidal Investments LLC decreased its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 21.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,356 shares of the energy company's stock after selling 12,321 shares during the period. Tidal Investments LLC's holdings in Imperial Oil were worth $5,091,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in Imperial Oil by 30.4% during the 3rd quarter. Bank of America Corp DE now owns 3,840,645 shares of the energy company's stock valued at $348,500,000 after purchasing an additional 895,117 shares in the last quarter. Morgan Stanley raised its stake in shares of Imperial Oil by 47.9% in the 4th quarter. Morgan Stanley now owns 1,867,363 shares of the energy company's stock worth $161,172,000 after buying an additional 604,447 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Imperial Oil by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 1,693,690 shares of the energy company's stock valued at $149,067,000 after buying an additional 78,321 shares during the period. UBS Group AG lifted its holdings in shares of Imperial Oil by 566.9% in the third quarter. UBS Group AG now owns 1,406,624 shares of the energy company's stock valued at $127,637,000 after buying an additional 1,195,698 shares during the period. Finally, Cibc World Market Inc. boosted its stake in Imperial Oil by 8.4% during the fourth quarter. Cibc World Market Inc. now owns 1,243,738 shares of the energy company's stock valued at $107,459,000 after buying an additional 96,694 shares in the last quarter. Institutional investors own 20.74% of the company's stock.

Imperial Oil Stock Performance

Shares of NYSEAMERICAN IMO opened at $129.99 on Monday. The company has a quick ratio of 1.19, a current ratio of 1.38 and a debt-to-equity ratio of 0.16. Imperial Oil Limited has a 12 month low of $83.27 and a 12 month high of $139.44. The company has a market cap of $62.60 billion, a price-to-earnings ratio of 21.09 and a beta of 0.46. The business has a fifty day simple moving average of $128.21 and a 200-day simple moving average of $125.54.

Imperial Oil (NYSEAMERICAN:IMO - Get Free Report) TSE: IMO last posted its quarterly earnings data on Friday, July 31st. The energy company reported $4.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.99 by $1.53. Imperial Oil had a return on equity of 22.28% and a net margin of 8.03%.The firm had revenue of $11.31 billion for the quarter, compared to the consensus estimate of $10.92 billion. During the same quarter in the previous year, the company earned $1.86 EPS. The business's revenue for the quarter was up 43.0% compared to the same quarter last year. Sell-side analysts predict that Imperial Oil Limited will post 11.19 EPS for the current year.

Imperial Oil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be given a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, September 4th. Imperial Oil's dividend payout ratio (DPR) is 38.09%.

Analysts Set New Price Targets

IMO has been the topic of a number of research analyst reports. TD Securities reaffirmed a "sell" rating on shares of Imperial Oil in a report on Wednesday, August 5th. Zacks Research downgraded shares of Imperial Oil from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 13th. Imperial Capital restated a "sell" rating on shares of Imperial Oil in a research report on Tuesday, June 23rd. Desjardins raised shares of Imperial Oil to a "hold" rating in a research note on Thursday, July 16th. Finally, Scotiabank reiterated a "sector perform" rating on shares of Imperial Oil in a report on Friday, July 17th. Four research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. According to MarketBeat, Imperial Oil presently has an average rating of "Strong Sell" and a consensus price target of $116.00.

Imperial Oil Profile

Imperial Oil Limited is an integrated Canadian energy company engaged in the exploration, production, transportation, refining and marketing of crude oil and natural gas. Its upstream operations include oil sands mining and in situ production, conventional oil and natural gas assets, and an interest in the Syncrude oil sands project.

The company's downstream business operates refineries and produces gasoline, diesel, jet fuel, lubricants, asphalt and other petroleum products. Imperial markets fuels and related products across Canada primarily under the Esso and Mobil brands, serving retail, commercial, industrial and aviation customers.

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