Mufg Securities Canada LTD. Sells 10,306 Shares of Imperial Oil Limited $IMO

Key Points

• Mufg Securities Canada reduced its Imperial Oil stake by 4.6%, selling 10,306 shares and retaining 212,062 shares valued at approximately $23.8 million. Institutional investors collectively own 20.74% of the company.
• Imperial Oil reported strong quarterly results, with earnings of $4.52 per share and revenue of $11.31 billion, exceeding estimates and representing 43% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.87 per share, equivalent to an annualized $3.48 payout and a 2.6% yield. Analysts remain cautious, with a consensus “Strong Sell” rating and a $116 price target versus the stock’s $131.34 price.

Mufg Securities Canada LTD. lowered its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 4.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 212,062 shares of the energy company's stock after selling 10,306 shares during the quarter. Mufg Securities Canada LTD.'s holdings in Imperial Oil were worth $23,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio increased its position in shares of Imperial Oil by 120.5% during the first quarter. Public Employees Retirement System of Ohio now owns 26,759 shares of the energy company's stock worth $3,497,000 after purchasing an additional 14,624 shares in the last quarter. NewEdge Wealth LLC raised its stake in shares of Imperial Oil by 15.6% in the first quarter. NewEdge Wealth LLC now owns 87,203 shares of the energy company's stock worth $11,408,000 after purchasing an additional 11,737 shares during the last quarter. Triasima Portfolio Management inc. raised its position in Imperial Oil by 17.6% during the 4th quarter. Triasima Portfolio Management inc. now owns 83,975 shares of the energy company's stock worth $7,264,000 after buying an additional 12,570 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Imperial Oil during the first quarter worth $93,097,000. Finally, Generali Asset Management SPA SGR raised its stake in shares of Imperial Oil by 37.3% during the 4th quarter. Generali Asset Management SPA SGR now owns 14,753 shares of the energy company's stock valued at $1,273,000 after buying an additional 4,007 shares during the last quarter. Hedge funds and other institutional investors own 20.74% of the company's stock.

Imperial Oil Price Performance

Imperial Oil stock opened at $131.34 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.19 and a current ratio of 1.38. The company's 50 day simple moving average is $124.93 and its 200-day simple moving average is $124.79. Imperial Oil Limited has a 1 year low of $83.27 and a 1 year high of $139.44. The company has a market capitalization of $63.51 billion, a price-to-earnings ratio of 21.30 and a beta of 0.45.

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, beating 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 business earned $1.86 EPS. The company's quarterly revenue was up 43.0% compared to the same quarter last year. As a group, equities research analysts expect that Imperial Oil Limited will post 11.19 earnings per share for the current year.

Imperial Oil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be issued a $0.87 dividend. The ex-dividend date is Friday, September 4th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.6%. Imperial Oil's payout ratio is 38.24%.

Analyst Upgrades and Downgrades

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

Imperial Oil Profile

Imperial Oil NYSEAMERICAN: IMO is a Canadian integrated energy company involved in the exploration, production, refining and marketing of petroleum and petrochemical products. Headquartered in Calgary, Alberta, Imperial has operated in Canada for well over a century and is one of the country's long-standing energy firms. The company is majority-owned by Exxon Mobil Corporation, which provides strategic and technical links to global upstream and downstream capabilities.

Imperial's operations span upstream activities—exploration and production of crude oil, natural gas and oil-sands resources—and downstream operations including refining, manufacturing of fuels and lubricants, petrochemical products, and retail distribution.

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