Maryland State Retirement & Pension System Lowers Holdings in Imperial Oil Limited (NYSEAMERICAN:IMO)

Maryland State Retirement & Pension System cut its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 19.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 67,149 shares of the energy company's stock after selling 15,882 shares during the period. Maryland State Retirement & Pension System's holdings in Imperial Oil were worth $3,827,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of IMO. The Manufacturers Life Insurance Company lifted its position in Imperial Oil by 114.8% during the third quarter. The Manufacturers Life Insurance Company now owns 3,371,517 shares of the energy company's stock worth $209,148,000 after purchasing an additional 1,801,671 shares during the period. FMR LLC lifted its position in Imperial Oil by 3.6% during the third quarter. FMR LLC now owns 28,557,885 shares of the energy company's stock worth $1,758,993,000 after purchasing an additional 1,001,847 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Imperial Oil by 27.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,737,291 shares of the energy company's stock worth $168,591,000 after purchasing an additional 589,017 shares during the period. Mackenzie Financial Corp lifted its position in Imperial Oil by 57.0% during the third quarter. Mackenzie Financial Corp now owns 427,463 shares of the energy company's stock worth $25,496,000 after purchasing an additional 155,111 shares during the period. Finally, Wellington Management Group LLP lifted its position in Imperial Oil by 296.1% during the third quarter. Wellington Management Group LLP now owns 177,533 shares of the energy company's stock worth $10,984,000 after purchasing an additional 132,713 shares during the period. 20.74% of the stock is currently owned by institutional investors and hedge funds.

Imperial Oil Stock Performance

Shares of IMO stock traded down $0.09 during trading hours on Tuesday, hitting $69.07. 219,528 shares of the company were exchanged, compared to its average volume of 409,720. The company has a market cap of $37.01 billion, a price-to-earnings ratio of 10.83 and a beta of 1.47. Imperial Oil Limited has a fifty-two week low of $44.89 and a fifty-two week high of $74.58. The company has a quick ratio of 1.04, a current ratio of 1.34 and a debt-to-equity ratio of 0.17.

Imperial Oil (NYSEAMERICAN:IMO - Get Free Report) TSE: IMO last issued its earnings results on Friday, April 26th. The energy company reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.55 by $0.10. Imperial Oil had a return on equity of 20.76% and a net margin of 9.46%. The company had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $11.61 billion. On average, equities analysts forecast that Imperial Oil Limited will post 6.07 earnings per share for the current year.

Imperial Oil Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.4377 dividend. This represents a $1.75 annualized dividend and a yield of 2.53%. The ex-dividend date is Monday, June 3rd. Imperial Oil's dividend payout ratio (DPR) is currently 27.74%.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Imperial Oil from a "hold" rating to a "buy" rating in a report on Sunday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Imperial Oil currently has a consensus rating of "Hold" and an average price target of $85.33.

Imperial Oil Profile

Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment transports and refines crude oil, blends refined products, and distributes and markets of refined products.