Caprock Group LLC Purchases Shares of 7,717 Imperial Oil Limited (NYSEAMERICAN:IMO)

Caprock Group LLC acquired a new position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 7,717 shares of the energy company’s stock, valued at approximately $530,000.

Several other large investors have also modified their holdings of the stock. First Eagle Investment Management LLC boosted its holdings in Imperial Oil by 1.4% in the fourth quarter. First Eagle Investment Management LLC now owns 22,495,313 shares of the energy company’s stock valued at $1,281,608,000 after acquiring an additional 316,009 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Imperial Oil by 95.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 6,597,474 shares of the energy company’s stock worth $376,421,000 after purchasing an additional 3,225,957 shares during the period. TD Asset Management Inc increased its position in Imperial Oil by 12.2% during the 2nd quarter. TD Asset Management Inc now owns 3,796,660 shares of the energy company’s stock worth $258,817,000 after purchasing an additional 412,600 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in Imperial Oil by 35.6% in the fourth quarter. Point72 Asset Management L.P. now owns 1,120,229 shares of the energy company’s stock valued at $63,913,000 after buying an additional 293,910 shares during the period. Finally, Capital World Investors lifted its position in Imperial Oil by 134.0% during the first quarter. Capital World Investors now owns 747,929 shares of the energy company’s stock valued at $51,588,000 after buying an additional 428,252 shares in the last quarter. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Imperial Oil Stock Performance

Shares of NYSEAMERICAN IMO opened at $65.73 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.40 and a debt-to-equity ratio of 0.17. Imperial Oil Limited has a fifty-two week low of $52.97 and a fifty-two week high of $77.70. The company has a market cap of $34.73 billion, a price-to-earnings ratio of 10.30 and a beta of 1.45.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last released its quarterly earnings results on Friday, August 2nd. The energy company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.11. The business had revenue of $9.78 billion during the quarter, compared to the consensus estimate of $10.50 billion. Imperial Oil had a net margin of 10.05% and a return on equity of 22.73%. As a group, sell-side analysts expect that Imperial Oil Limited will post 6.29 EPS for the current fiscal year.

Imperial Oil Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Wednesday, September 4th will be paid a $0.4336 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.73 dividend on an annualized basis and a dividend yield of 2.64%. Imperial Oil’s dividend payout ratio (DPR) is presently 27.27%.

Imperial Oil Company 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.