Point72 Europe London LLP Acquires 87,299 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Point72 Europe London LLP grew its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 130.1% in the 2nd quarter, Holdings Channel reports. The fund owned 154,382 shares of the energy company’s stock after purchasing an additional 87,299 shares during the quarter. Point72 Europe London LLP’s holdings in Imperial Oil were worth $10,521,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. The Manufacturers Life Insurance Company raised its holdings in Imperial Oil by 95.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 6,597,474 shares of the energy company’s stock valued at $376,421,000 after acquiring an additional 3,225,957 shares in the last quarter. TD Asset Management Inc raised 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 valued at $233,640,000 after purchasing an additional 2,259,766 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Imperial Oil by 10,896.4% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 867,174 shares of the energy company’s stock valued at $59,135,000 after purchasing an additional 859,288 shares in the last quarter. Jupiter Asset Management Ltd. bought a new position in Imperial Oil in the second quarter worth $40,729,000. Finally, Capital World Investors boosted its stake in Imperial Oil by 134.0% during the first quarter. Capital World Investors now owns 747,929 shares of the energy company’s stock worth $51,588,000 after buying an additional 428,252 shares in the last quarter. Institutional investors and hedge funds own 20.74% of the company’s stock.

Imperial Oil Price Performance

Shares of IMO stock opened at $71.50 on Wednesday. The company has a quick ratio of 1.16, a current ratio of 1.40 and a debt-to-equity ratio of 0.17. The stock has a market cap of $37.78 billion, a P/E ratio of 9.95 and a beta of 1.45. Imperial Oil Limited has a 12-month low of $52.97 and a 12-month high of $77.70.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last posted its earnings results on Friday, August 2nd. The energy company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.11. The company had revenue of $9.78 billion during 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%. On average, research analysts predict that Imperial Oil Limited will post 6.2 EPS for the current year.

Imperial Oil Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Wednesday, September 4th will be paid a $0.4336 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Wednesday, September 4th. Imperial Oil’s dividend payout ratio is currently 27.90%.

Wall Street Analyst Weigh In

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

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.