Nykredit A S Purchases New Stake in Imperial Oil Limited $IMO

Key Points

• Nykredit A S acquired 9,263 Imperial Oil shares during the second quarter, valued at approximately $1.04 million. Institutional investors collectively own 20.74% of the company.
• Analysts remain cautious, with four Hold ratings and five Sell ratings, producing a consensus rating of “Strong Sell” and an average price target of $116.
• Imperial Oil exceeded quarterly earnings expectations, reporting EPS of $4.52 versus the $2.99 consensus and revenue of $11.31 billion. The company also declared a quarterly dividend of $0.87 per share, representing a 2.7% annualized yield.

Nykredit A S acquired a new position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,263 shares of the energy company's stock, valued at approximately $1,040,000.

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

Analysts Set New Price Targets

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

Imperial Oil Price Performance

Shares of NYSEAMERICAN IMO opened at $128.62 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 1.38 and a debt-to-equity ratio of 0.16. The company has a market cap of $61.94 billion, a P/E ratio of 20.86 and a beta of 0.46. Imperial Oil Limited has a 52 week low of $83.27 and a 52 week high of $139.44. The business has a 50-day simple moving average of $126.74 and a two-hundred day simple moving average of $125.25.

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

Imperial Oil Announces Dividend

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

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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