Hsbc Holdings PLC Lowers Stock Holdings in Imperial Oil Limited (NYSEAMERICAN:IMO)

Hsbc Holdings PLC cut its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 93.3% during the second quarter, Holdings Channel.com reports. The fund owned 8,819 shares of the energy company’s stock after selling 122,910 shares during the period. Hsbc Holdings PLC’s holdings in Imperial Oil were worth $603,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Imperial Oil by 19.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 12,633 shares of the energy company’s stock worth $862,000 after buying an additional 2,047 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Imperial Oil by 5.1% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 3,266 shares of the energy company’s stock valued at $223,000 after purchasing an additional 158 shares during the last quarter. Plancorp LLC purchased a new position in shares of Imperial Oil during the second quarter valued at about $2,695,000. Rathbones Group PLC increased its holdings in shares of Imperial Oil by 116.1% in the second quarter. Rathbones Group PLC now owns 6,483 shares of the energy company’s stock worth $442,000 after purchasing an additional 3,483 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Imperial Oil by 0.5% in the second quarter. Envestnet Asset Management Inc. now owns 57,238 shares of the energy company’s stock worth $3,906,000 after buying an additional 304 shares in the last quarter. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

Imperial Oil Stock Up 0.2 %

NYSEAMERICAN:IMO opened at $70.45 on Tuesday. The company has a market capitalization of $37.23 billion, a PE ratio of 11.04 and a beta of 1.45. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.40 and a quick ratio of 1.16. Imperial Oil Limited has a 1 year low of $52.97 and a 1 year high of $77.70.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last issued its quarterly earnings results on Friday, August 2nd. The energy company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.11. The company had revenue of $9.78 billion during the quarter, compared to the consensus estimate of $10.50 billion. Imperial Oil had a return on equity of 22.73% and a net margin of 10.05%. Research analysts anticipate that Imperial Oil Limited will post 6.2 EPS for the current fiscal year.

Imperial Oil Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Wednesday, September 4th will be issued a $0.4336 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $1.73 annualized dividend and a dividend yield of 2.46%. Imperial Oil’s dividend payout ratio (DPR) is presently 27.90%.

Analysts Set New Price Targets

Several equities analysts have weighed in on IMO shares. StockNews.com cut Imperial Oil from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Wolfe Research began coverage on shares of Imperial Oil in a report on Thursday, July 18th. They issued an “outperform” rating and a $108.00 target price for the company. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $110.00 price target on shares of Imperial Oil in a research note on Wednesday, September 25th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company 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.