First Eagle Investment Management LLC Has $1.49 Billion Stock Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

First Eagle Investment Management LLC reduced its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 2.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,860,086 shares of the energy company’s stock after selling 523,505 shares during the period. Imperial Oil comprises 3.3% of First Eagle Investment Management LLC’s investment portfolio, making the stock its 4th largest holding. First Eagle Investment Management LLC owned approximately 4.08% of Imperial Oil worth $1,490,746,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in IMO. The Manufacturers Life Insurance Company raised its position in 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 last quarter. TD Asset Management Inc lifted its stake in shares of Imperial Oil by 201.0% in the first quarter. TD Asset Management Inc now owns 3,384,060 shares of the energy company’s stock worth $233,640,000 after acquiring an additional 2,259,766 shares during the period. Jupiter Asset Management Ltd. bought a new stake in Imperial Oil in the second quarter valued at approximately $40,729,000. Capital World Investors boosted its holdings in Imperial Oil by 134.0% in the first quarter. Capital World Investors now owns 747,929 shares of the energy company’s stock valued at $51,588,000 after acquiring an additional 428,252 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its position in Imperial Oil by 35.6% during the 4th quarter. Point72 Asset Management L.P. now owns 1,120,229 shares of the energy company’s stock valued at $63,913,000 after purchasing an additional 293,910 shares during the period. Institutional investors and hedge funds own 20.74% of the company’s stock.

Imperial Oil Stock Down 0.5 %

IMO opened at $66.91 on Thursday. Imperial Oil Limited has a 1 year low of $52.97 and a 1 year high of $77.70. The company has a current ratio of 1.40, a quick ratio of 1.16 and a debt-to-equity ratio of 0.17. The firm has a market cap of $35.36 billion, a price-to-earnings ratio of 10.49 and a beta of 1.45.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last posted its earnings results on Friday, August 2nd. The energy company reported $1.54 EPS 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 analysts’ expectations of $10.50 billion. Imperial Oil had a net margin of 10.05% and a return on equity of 22.73%. Sell-side analysts predict that Imperial Oil Limited will post 6.29 EPS for the current fiscal year.

Imperial Oil Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Wednesday, September 4th will be issued a dividend of $0.4336 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.73 dividend on an annualized basis and a yield of 2.59%. Imperial Oil’s dividend payout ratio (DPR) is presently 27.90%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Wolfe Research started coverage on Imperial Oil in a report on Thursday, July 18th. They set an “outperform” rating and a $108.00 price target for the company. Raymond James upgraded Imperial Oil to a “hold” rating in a report on Tuesday, May 28th. Scotiabank dropped their price target on 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. Finally, StockNews.com downgraded shares of Imperial Oil from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $99.50.

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.