Public Employees Retirement System of Ohio Invests $1.18 Million in Imperial Oil Limited $IMO

Key Points

• Public Employees Retirement System of Ohio acquired 10,508 Imperial Oil shares worth approximately $1.18 million in the second quarter. Institutional investors collectively own 20.74% of the company.
• Imperial Oil reported quarterly earnings of $4.52 per share, beating estimates of $2.99, while revenue rose 43% year over year to $11.31 billion.
• Analysts maintain a cautious view, with four Hold and five Sell ratings producing a “Strong Sell” consensus. Imperial Oil also declared a quarterly dividend of $0.87 per share, equal to a 2.6% yield.

Public Employees Retirement System of Ohio acquired a new stake in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,508 shares of the energy company's stock, valued at approximately $1,180,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. UBS Group AG grew its stake in Imperial Oil by 566.9% in the 3rd quarter. UBS Group AG now owns 1,406,624 shares of the energy company's stock worth $127,637,000 after acquiring an additional 1,195,698 shares during the period. Bank of America Corp DE raised its holdings in Imperial Oil by 30.4% in 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 acquiring an additional 895,117 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Imperial Oil during the 1st quarter worth $93,097,000. Morgan Stanley boosted its holdings in shares of Imperial Oil by 47.9% during the fourth quarter. Morgan Stanley now owns 1,867,363 shares of the energy company's stock worth $161,172,000 after purchasing an additional 604,447 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Imperial Oil during the second quarter worth $24,051,000. Hedge funds and other institutional investors own 20.74% of the company's stock.

Wall Street Analyst Weigh In

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

Imperial Oil Price Performance

IMO opened at $131.38 on Wednesday. Imperial Oil Limited has a 52-week low of $83.27 and a 52-week high of $139.44. The company has a 50 day moving average of $127.13 and a two-hundred day moving average of $125.33. The company has a market cap of $63.27 billion, a P/E ratio of 21.31 and a beta of 0.46. 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 (NYSEAMERICAN:IMO - Get Free Report) TSE: IMO last issued its earnings results on Friday, July 31st. The energy company reported $4.52 EPS for the quarter, beating analysts' consensus estimates of $2.99 by $1.53. Imperial Oil had a net margin of 8.03% and a return on equity of 22.28%. The business had revenue of $11.31 billion for the quarter, compared to the consensus estimate of $10.92 billion. During the same quarter last year, the firm posted $1.86 EPS. The business's revenue for the quarter was up 43.0% compared to the same quarter last year. On average, analysts expect that Imperial Oil Limited will post 11.19 earnings per share for the current year.

Imperial Oil Announces Dividend

The business 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. The ex-dividend date of this dividend is Friday, September 4th. This represents a $3.48 annualized dividend and a dividend yield of 2.6%. Imperial Oil's dividend payout ratio is presently 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. 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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