QV Investors Inc. Has $17.58 Million Stock Position in Imperial Oil Limited $IMO

QV Investors Inc. lowered its position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 21.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,597 shares of the energy company’s stock after selling 42,829 shares during the quarter. Imperial Oil makes up approximately 1.4% of QV Investors Inc.’s holdings, making the stock its 26th biggest position. QV Investors Inc.’s holdings in Imperial Oil were worth $17,579,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC lifted its holdings in shares of Imperial Oil by 5.0% during the 1st quarter. AQR Capital Management LLC now owns 34,218 shares of the energy company’s stock valued at $2,475,000 after buying an additional 1,627 shares during the last quarter. NewEdge Advisors LLC increased its holdings in Imperial Oil by 54.7% in the first quarter. NewEdge Advisors LLC now owns 11,887 shares of the energy company’s stock worth $860,000 after buying an additional 4,201 shares during the last quarter. Focus Partners Wealth bought a new position in Imperial Oil during the first quarter valued at approximately $200,000. Cetera Investment Advisers raised its position in Imperial Oil by 6.8% during the second quarter. Cetera Investment Advisers now owns 4,569 shares of the energy company’s stock valued at $363,000 after acquiring an additional 291 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Imperial Oil by 4.7% in the second quarter. Invesco Ltd. now owns 354,865 shares of the energy company’s stock valued at $28,205,000 after acquiring an additional 15,834 shares during the last quarter. 20.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Imperial Oil Price Performance

IMO opened at $130.51 on Monday. The business has a 50 day moving average price of $124.58 and a 200 day moving average price of $124.67. Imperial Oil Limited has a twelve month low of $83.27 and a twelve month high of $139.44. 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 firm has a market cap of $63.11 billion, a P/E ratio of 21.17 and a beta of 0.45.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last announced its 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. 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 during the quarter, compared to analysts’ expectations of $10.92 billion. During the same quarter in the prior year, the business earned $1.86 earnings per share. The company’s revenue was up 43.0% on a year-over-year basis. Research analysts forecast that Imperial Oil Limited will post 11.19 EPS for the current year.

Imperial Oil Announces Dividend

The company 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 dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, September 4th. Imperial Oil’s dividend payout ratio is currently 38.24%.

Imperial Oil Company 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.