Ballentine Partners LLC Invests $254,000 in Imperial Oil Limited (NYSEAMERICAN:IMO)

Ballentine Partners LLC purchased a new position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,612 shares of the energy company’s stock, valued at approximately $254,000.

Other hedge funds have also bought and sold shares of the company. TD Asset Management Inc grew its holdings 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 worth $233,640,000 after purchasing an additional 2,259,766 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in 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 worth $59,135,000 after acquiring an additional 859,288 shares during the period. Jupiter Asset Management Ltd. bought a new position in Imperial Oil during the 2nd quarter worth about $40,729,000. Capital World Investors grew its holdings in Imperial Oil by 134.0% during the 1st 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 in the last quarter. Finally, SIR Capital Management L.P. bought a new position in Imperial Oil during the 2nd quarter worth about $11,405,000. Institutional investors own 20.74% of the company’s stock.

Wall Street Analysts Forecast Growth

IMO has been the topic of several recent research reports. StockNews.com cut shares of Imperial Oil from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Scotiabank reiterated a “sector perform” rating and set a $110.00 target price on shares of Imperial Oil in a report on Wednesday, September 25th. Finally, Wolfe Research initiated coverage on shares of Imperial Oil in a 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’s stock. Based on data from MarketBeat.com, Imperial Oil currently has a consensus rating of “Hold” and a consensus target price of $99.50.

Imperial Oil Stock Performance

NYSEAMERICAN:IMO opened at $74.53 on Tuesday. The stock has a market capitalization of $39.38 billion, a PE ratio of 10.56 and a beta of 1.44. 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 fifty-two week low of $52.97 and a fifty-two week high of $80.17.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last released 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 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, sell-side analysts predict that Imperial Oil Limited will post 6.14 earnings per share for the current fiscal year.

Imperial Oil Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Wednesday, September 4th were paid a $0.4336 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend was Wednesday, September 4th. Imperial Oil’s dividend payout ratio (DPR) is presently 25.21%.

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.