Imperial Oil Limited $IMO Stock Purchased by Triasima Portfolio Management inc.

Key Points

• Triasima Portfolio Management increased its Imperial Oil stake by 20.7% in the third quarter, bringing its holdings to 61,265 shares valued at approximately $7.55 million. Institutional investors collectively own 20.74% of the company.
• Imperial Oil reported quarterly EPS of $4.52, exceeding the $2.99 consensus estimate, while revenue rose 43% year over year to $11.31 billion.
• Analyst sentiment remains cautious, with a consensus rating of “Reduce” and an average price target of $116, despite the company’s quarterly C$0.87 dividend, representing a 2.7% yield.

Triasima Portfolio Management inc. boosted its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 20.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,265 shares of the energy company's stock after buying an additional 10,520 shares during the period. Imperial Oil comprises 1.0% of Triasima Portfolio Management inc.'s portfolio, making the stock its 26th largest holding. Triasima Portfolio Management inc.'s holdings in Imperial Oil were worth $7,552,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of IMO. Baker Ellis Asset Management LLC raised its stake in shares of Imperial Oil by 3.4% in the 3rd quarter. Baker Ellis Asset Management LLC now owns 4,600 shares of the energy company's stock valued at $566,000 after buying an additional 150 shares in the last quarter. Breakwater Capital Group bought a new position in shares of Imperial Oil during the 3rd quarter worth about $219,000. Farther Finance Advisors LLC lifted its holdings in shares of Imperial Oil by 3.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 5,310 shares of the energy company's stock worth $653,000 after acquiring an additional 199 shares during the period. Apella Capital LLC acquired a new stake in shares of Imperial Oil during the 3rd quarter valued at about $300,000. Finally, Venture Visionary Partners LLC acquired a new stake in shares of Imperial Oil during the 3rd quarter valued at about $218,000. Institutional investors and hedge funds own 20.74% of the company's stock.

Analyst Ratings Changes

IMO has been the topic of a number of analyst reports. UBS Group reissued a "buy" rating on shares of Imperial Oil in a research note on Monday, September 14th. Imperial Capital reissued a "sell" rating on shares of Imperial Oil in a research report on Tuesday, June 23rd. Raymond James Financial restated an "underperform" rating on shares of Imperial Oil in a research note on Wednesday, September 16th. TD Securities reaffirmed a "sell" rating on shares of Imperial Oil in a report on Wednesday, August 5th. Finally, Scotiabank reaffirmed a "sector perform" rating on shares of Imperial Oil in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and five have issued a Sell rating to the company's stock. Based on data from MarketBeat, Imperial Oil currently has a consensus rating of "Reduce" and an average target price of $116.00.

Imperial Oil Stock Performance

Shares of NYSEAMERICAN:IMO opened at $129.59 on Friday. The business's fifty day moving average price is $129.15 and its two-hundred day moving average price is $126.17. Imperial Oil Limited has a fifty-two week low of $83.27 and a fifty-two week high of $139.44. The stock has a market capitalization of $61.17 billion, a price-to-earnings ratio of 16.92 and a beta of 0.57. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.38 and a quick ratio of 1.19.

Imperial Oil (NYSEAMERICAN:IMO - Get Free Report) TSE: IMO last released 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. The firm had revenue of $11.31 billion during the quarter, compared to analyst estimates of $10.92 billion. Imperial Oil had a return on equity of 22.28% and a net margin of 8.03%. The business's revenue for the quarter was up 43.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.86 earnings per share. As a group, analysts predict that Imperial Oil Limited will post 11.19 EPS for the current fiscal year.

Imperial Oil Announces Dividend

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

Imperial Oil Company 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. Founded in 1880, the company is headquartered in Calgary, Alberta, and has operations primarily across Canada.

Imperial's upstream business includes oil sands production at its Kearl and Cold Lake projects, as well as conventional oil and natural gas activities. The company also holds an interest in Syncrude, one of Canada's major oil sands mining and upgrading operations.

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