Crossmark Global Holdings Inc. Grows Stake in Imperial Oil Limited (NYSEAMERICAN:IMO)

Crossmark Global Holdings Inc. increased its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 6.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,967 shares of the energy company’s stock after purchasing an additional 1,103 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Imperial Oil were worth $1,226,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. CWM LLC lifted its holdings in shares of Imperial Oil by 156.8% in the fourth quarter. CWM LLC now owns 2,011 shares of the energy company’s stock valued at $115,000 after purchasing an additional 1,228 shares in the last quarter. Natixis Advisors L.P. grew its holdings in Imperial Oil by 3.3% during the 4th quarter. Natixis Advisors L.P. now owns 12,894 shares of the energy company’s stock valued at $737,000 after buying an additional 409 shares during the last quarter. Metis Global Partners LLC raised its holdings in shares of Imperial Oil by 9.6% in the fourth quarter. Metis Global Partners LLC now owns 9,633 shares of the energy company’s stock worth $549,000 after acquiring an additional 841 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Imperial Oil during the fourth quarter valued at $368,000. Finally, Massachusetts Financial Services Co. MA raised its stake in Imperial Oil by 4.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 113,018 shares of the energy company’s stock valued at $6,463,000 after purchasing an additional 4,610 shares during the last quarter. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on IMO shares. Raymond James raised Imperial Oil to a “hold” rating in a research report on Tuesday, May 28th. Scotiabank dropped their price objective on shares of Imperial Oil from $111.00 to $110.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Wolfe Research started coverage on shares of Imperial Oil in a research report on Thursday, July 18th. They set an “outperform” rating and a $108.00 price target for the company. Finally, StockNews.com lowered Imperial Oil from a “buy” rating to a “hold” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Imperial Oil has a consensus rating of “Hold” and a consensus price target of $99.50.

Imperial Oil Trading Down 1.5 %

IMO stock opened at $75.23 on Friday. The firm has a market cap of $40.31 billion, a price-to-earnings ratio of 11.79 and a beta of 1.47. Imperial Oil Limited has a 1-year low of $52.97 and a 1-year high of $77.70. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.34 and a quick ratio of 1.04.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last issued its earnings results on Friday, August 2nd. The energy company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.11. The firm had revenue of $9.78 billion for the quarter, compared to analyst estimates of $10.50 billion. Imperial Oil had a return on equity of 20.76% and a net margin of 9.46%. Equities research analysts expect that Imperial Oil Limited will post 6.22 EPS for the current fiscal year.

Imperial Oil Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Wednesday, September 4th will be paid a dividend of $0.4336 per share. This represents a $1.73 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Wednesday, September 4th. Imperial Oil’s payout ratio is currently 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.