Mediolanum International Funds Ltd Sells 848 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Mediolanum International Funds Ltd lessened its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 7.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,056 shares of the energy company’s stock after selling 848 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Imperial Oil were worth $706,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. RFP Financial Group LLC bought a new stake in Imperial Oil in the second quarter valued at about $25,000. Hexagon Capital Partners LLC grew its stake in Imperial Oil by 84.0% in the first quarter. Hexagon Capital Partners LLC now owns 493 shares of the energy company’s stock valued at $34,000 after acquiring an additional 225 shares during the period. Grove Bank & Trust grew its stake in Imperial Oil by 438.0% in the third quarter. Grove Bank & Trust now owns 538 shares of the energy company’s stock valued at $38,000 after acquiring an additional 438 shares during the period. Headlands Technologies LLC acquired a new position in Imperial Oil in the first quarter valued at about $46,000. Finally, Oakworth Capital Inc. acquired a new position in Imperial Oil in the third quarter valued at about $101,000. Institutional investors own 20.74% of the company’s stock.

Imperial Oil Price Performance

Shares of NYSEAMERICAN:IMO opened at $76.13 on Monday. The company has a market cap of $40.23 billion, a P/E ratio of 10.78 and a beta of 1.44. Imperial Oil Limited has a 1 year low of $52.97 and a 1 year high of $80.17. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.16 and a current ratio of 1.40.

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 business had revenue of $9.78 billion for 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%. On average, equities analysts predict that Imperial Oil Limited will post 6.14 EPS for the current year.

Imperial Oil Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Wednesday, September 4th were issued a dividend of $0.4336 per share. This represents a $1.73 annualized dividend and a dividend yield of 2.28%. The ex-dividend date was Wednesday, September 4th. Imperial Oil’s dividend payout ratio (DPR) is 25.21%.

Analysts Set New Price Targets

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