Oakworth Capital Inc. Takes $101,000 Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

Oakworth Capital Inc. bought a new stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 1,440 shares of the energy company’s stock, valued at approximately $101,000.

A number of other institutional investors have also modified their holdings of the stock. TD Asset Management Inc grew its holdings in Imperial Oil by 12.2% during 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 during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Imperial Oil by 10,896.4% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 867,174 shares of the energy company’s stock worth $59,135,000 after acquiring an additional 859,288 shares during the period. Toronto Dominion Bank grew its holdings in Imperial Oil by 14.7% during the second quarter. Toronto Dominion Bank now owns 822,478 shares of the energy company’s stock worth $56,134,000 after acquiring an additional 105,205 shares during the period. Capital World Investors grew its holdings 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 acquiring an additional 428,252 shares during the period. Finally, Jupiter Asset Management Ltd. acquired a new position in Imperial Oil during the second quarter worth $40,729,000. Institutional investors and hedge funds own 20.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Scotiabank reiterated a “sector perform” rating and set a $110.00 target price on shares of Imperial Oil in a research report on Wednesday, September 25th. StockNews.com downgraded Imperial Oil from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Finally, Wolfe Research assumed coverage on Imperial Oil in a research report on Thursday, July 18th. They set an “outperform” rating and a $108.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $99.50.

Imperial Oil Stock Performance

Shares of NYSEAMERICAN:IMO opened at $76.54 on Wednesday. The company has a current ratio of 1.40, a quick ratio of 1.16 and a debt-to-equity ratio of 0.17. Imperial Oil Limited has a 52-week low of $52.97 and a 52-week high of $80.17. The firm has a market capitalization of $40.45 billion, a PE ratio of 10.84 and a beta of 1.44.

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

Imperial Oil Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Wednesday, September 4th were given a $0.4336 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.73 annualized dividend and a dividend yield of 2.27%. Imperial Oil’s dividend payout ratio is currently 25.21%.

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.