Imperial Oil Limited (NYSEAMERICAN:IMO) Stake Increased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System grew its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 2.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,730 shares of the energy company’s stock after purchasing an additional 1,581 shares during the period. Maryland State Retirement & Pension System’s holdings in Imperial Oil were worth $4,739,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of IMO. AdvisorNet Financial Inc raised its holdings in shares of Imperial Oil by 52.6% during the fourth quarter. AdvisorNet Financial Inc now owns 522 shares of the energy company’s stock worth $30,000 after acquiring an additional 180 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in shares of Imperial Oil by 84.0% during the first quarter. Hexagon Capital Partners LLC now owns 493 shares of the energy company’s stock worth $34,000 after acquiring an additional 225 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Imperial Oil during the fourth quarter worth $44,000. Assetmark Inc. raised its holdings in shares of Imperial Oil by 938.5% during the fourth quarter. Assetmark Inc. now owns 810 shares of the energy company’s stock worth $46,000 after acquiring an additional 732 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of Imperial Oil by 156.8% during the fourth quarter. CWM LLC now owns 2,011 shares of the energy company’s stock worth $115,000 after acquiring an additional 1,228 shares in the last quarter. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Analysts Set New Price Targets

IMO has been the subject of several recent research reports. StockNews.com lowered Imperial Oil from a “buy” rating to a “hold” rating in a report on Monday. Raymond James raised shares of Imperial Oil to a “hold” rating in a research report on Tuesday, May 28th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $85.33.

Imperial Oil Stock Down 0.8 %

Shares of NYSEAMERICAN IMO traded down $0.55 during mid-day trading on Friday, hitting $69.08. The company had a trading volume of 93,593 shares, compared to its average volume of 392,738. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.04 and a current ratio of 1.34. Imperial Oil Limited has a 12 month low of $48.26 and a 12 month high of $74.58. The stock has a market cap of $37.02 billion, a PE ratio of 10.91 and a beta of 1.47.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last released its earnings results on Friday, April 26th. The energy company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.10. Imperial Oil had a net margin of 9.46% and a return on equity of 20.76%. The business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $11.61 billion. On average, research analysts forecast that Imperial Oil Limited will post 6.29 EPS for the current year.

Imperial Oil Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were paid a dividend of $0.4377 per share. This represents a $1.75 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date was Monday, June 3rd. Imperial Oil’s dividend payout ratio is 27.59%.

About Imperial Oil

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.