American Century Companies Inc. Sells 305 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

American Century Companies Inc. decreased its position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 0.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 73,244 shares of the energy company’s stock after selling 305 shares during the quarter. American Century Companies Inc.’s holdings in Imperial Oil were worth $4,994,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its position in shares of 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 worth $376,421,000 after purchasing an additional 3,225,957 shares in the last quarter. TD Asset Management Inc boosted its holdings in Imperial Oil by 12.2% in the second quarter. TD Asset Management Inc now owns 3,796,660 shares of the energy company’s stock worth $258,817,000 after acquiring an additional 412,600 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of 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 worth $63,913,000 after acquiring an additional 293,910 shares during the last quarter. Capital World Investors increased its holdings in shares of 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 acquiring an additional 428,252 shares in the last quarter. Finally, Alberta Investment Management Corp raised its position in shares of Imperial Oil by 11.5% in the 4th quarter. Alberta Investment Management Corp now owns 428,432 shares of the energy company’s stock worth $24,525,000 after purchasing an additional 44,300 shares during the last quarter. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Imperial Oil Trading Down 1.7 %

Shares of IMO stock opened at $70.32 on Thursday. 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 52 week low of $52.97 and a 52 week high of $77.70. The company has a market capitalization of $37.16 billion, a PE ratio of 11.02 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 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 anticipate that Imperial Oil Limited will post 6.2 EPS for the current year.

Imperial Oil Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.4336 per share. This represents a $1.73 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Wednesday, September 4th. Imperial Oil’s payout ratio is currently 27.90%.

Analysts Set New Price Targets

IMO has been the topic of several recent analyst reports. Scotiabank reissued a “sector perform” rating and set a $110.00 price objective on shares of Imperial Oil in a research report on Wednesday. StockNews.com cut shares of Imperial Oil from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Finally, Wolfe Research assumed coverage on shares of Imperial Oil in a report on Thursday, July 18th. They issued an “outperform” rating and a $108.00 price objective for the company. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Imperial Oil presently has a consensus rating of “Hold” and an average target price of $99.50.

Imperial Oil 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.